Saudi Exchange CEO: Saudi Arabia is an enticing prospect for global investment

At the first international edition of the Capital Markets Forum, Mohammed Al Rumaih, CEO of the Saudi Exchange, unveiled new steps that the Saudi Exchange is taking to attract international investors.

Al Rumaih highlighted recent milestones, including the introduction of Market Making and the eagerly awaited debut of Single Stock Options. He also noted the upcoming launch of the second phase of the Saudi Exchange’s post trade development program, anticipated in Q3 2024. Al Rumaih expressed confidence in the Saudi Exchange’s future, referencing a robust and diverse pipeline of IPOs ready to enter the market.

He highlighted that international investments saw remarkable growth, soaring from $30 billion in 2019 to more than triple that figure at the end of 2023.

Speaking at the event, he said, “The main attraction of Saudi Arabia is the country itself and the vision. We are halfway towards 2030; and I remember when it first came out, it was faced with criticism and skepticism but now we have achieved some of the goals that were set for 2030. And we didn’t relax, we changed the goals to make it more challenging. And I think the message that was sent to everyone is that we’re determined, we are transforming the economy to be more sustainable and non-reliant on oil.”

He emphasized that Vision 2030 had ushered in a new era, embracing sectors like tourism, and increasing the participation of women in the workforce, propelling Saudi Arabia to become one of the fastest-growing economies in the G20. With buoyant consumer spending and a youthful demographic, he stated that Saudi Arabia stands as an enticing prospect for global investments.

“We tick all the boxes for a great destination for any international investments. We think there is great potential for us and we’re looking to provide great opportunities for investors, not only in the capital market but beyond that,” he said.