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Investment Minister: Saudi Arabia’s Economy Demonstrates High Degree of Resilience Against Coronavirus Pandemic

Riyadh, The Minister of Investment Eng. Khalid bin Abdulaziz Al-Falih, confirmed that the Kingdom’s economy is one of the most resilient economies in the world, as the biggest incentive for any economy in the world is its ability to be resilient and withstand shocks.
This came during a discussion session within the Global Digital Summit Series being organized by the Financial Times Network in cooperation with the Ministry of Investment and the Saudi Secretariat of the G20.
Eng. Al-Falih said that it is important for governments in the world to build real partnerships with the private sector, pointing out that the Kingdom has demonstrated great interest in the private sector during coronavirus pandemic, but its interest in people comes first.
He also stressed the importance of the role of governments in the world in identifying the challenges facing investors in the world and providing the necessary support to face those challenges, citing the Saudi support of such efforts.
Moreover, the Minister of Investment said “The transparency of regulations gives investors a sense of security and it is important for the world to work to ensure this.”
Eng. Al-Falih affirmed that the Kingdom, despite the current circumstances, is proceeding with its development plans and the implementation of its major projects related to the Kingdom’s Vision 2030 and support for investors, highlighting that the Kingdom’s strategy to adapt to the current conditions is based on empowering young people who are the real wealth and the main engine of the Kingdom’s Vision 2030.
He went on stressing the Kingdom’s encouragement to invest in the fields of industry, health, biotechnology and pharmaceutical industries, expressing his optimism about the future of investment in the Kingdom, despite the global decline in its rates, especially since economic reforms, empowering youth and establishing special economic zones will help the Kingdom recover from the impacts of the pandemic. .
It is worth mentioning that the Global Digital Summit is being held over a period of four days (21-22-28-29) of October 2020, with the participation of the most prominent officials and business leaders of major international companies, as it deals with a number of themes and topics, most notably building the digital economy, sustainable development, and promoting employment and skills acquisition.

 

Source: Saudi Press Agency

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