Minister of Investment: Saudi Arabia a key place for solutions to global supply chain problems

Eng. Khalid Al-Falih, Minister of Investment, said on Tuesday, that there is a transformation at the level of trade and supply chains in light of the impact of globalization on them, stressing that the Kingdom has become the main place that provides solutions to the problems of global supply chains.

During his speech, as part of the activities of the sixth edition of the “Future Investment Initiative Conference” held in Riyadh, he stressed that the security crises in the world will continue after witnessing many transformations during the past years and in light of the work of countries to build their national security, pointing to the situation in Europe and Ukraine as well as the crisis in China and Taiwan.

Al-Falih added that there is also a transformation in the oil and gas sector, as the energy crisis in Europe will increase the acceleration of this transformation, especially in the field of hydrogen.

“On the other hand, we have very strong relations with our Asian partners,” he said, referring to Japan and South Korea, and said China was the largest importer of hydrocarbons from Saudi Arabia.

The minister stressed that there are many opportunities at the level of technologies and investments to deal with the new world order, “and the Kingdom was a pioneer in this, with the Crown Prince in 2016 opening the curtain for what we are experiencing today and in the future.”

The 6th edition of the three-day Future Investment Initiative (FII) kicked off today at the King Abdul Aziz International Conference Center in Riyadh under the theme “’Investing in Humanity: Enabling a New Global Order,” with the participation of 6,000 participants from various countries and 500 speakers from several sectors from inside and outside the Kingdom of Saudi Arabia.