Saudi Crown Prince and Macron Sign Multibillion-Dollar Deals in Paris, Call for Normal Shipping Through Hormuz

Saudi Crown Prince Mohammed bin Salman signed a raft of deals spanning energy, defense, AI and tourism with French President Emmanuel Macron at the Elysee Palace on Monday, August 24, 2026. The largest agreement was a six billion euro (about $7 billion) investment by Qiddiya, the investment arm of Saudi Arabia's sovereign wealth fund, in three theme parks near Paris, one of them manga themed, expected to create around 22,000 jobs. Two further contracts were signed with French firms: $434 million with shipping group CMA CGM to help develop Jeddah Islamic Port, and $580 million with Alstom to supply metro carriages for Riyadh's metro.

In a joint statement, Macron and the Saudi crown prince called for a negotiated end to the US Iran war and a return to normal shipping through the Strait of Hormuz. The visit marked the Saudi crown prince's third official trip to France.