Al-Falih: FDI inflows to the Kingdom increased threefold.. number of international investors increased tenfold

Engineer Khalid Al-Falih, Minister of Investment, said that 1,238 international investors obtained distinguished residency in Saudi Arabia, indicating that the Kingdom, with its Vision 2030, represents a successful model for sustainable investment, pointing out that the Kingdom has achieved remarkable economic growth of 70% in recent years, with foreign direct investment flows increasing threefold, and the number of registered international investors increasing tenfold compared to what it was before the launch of the vision.

The 28th Annual World Investment Conference (WIC), organized by the “Invest in Saudi” platform in partnership with the World Association of Investment Promotion Agencies (WAIPA), kicked off in Riyadh today.

The Minister of Investment opened the conference with a speech in which he welcomed the participants, saying: “We are honored to host this prominent international gathering that brings together an elite group of investors, decision-makers and experts to discuss one of the most important drivers of the global economy, which is investment, as this conference is held over three days; It aims to provide a fruitful dialogue that highlights the diverse perspective of the global investment landscape.”

He pointed to the challenges and opportunities facing global investment in light of the current economic transformations, indicating that the conference will focus on discussing four main axes: sustainability through investing in the blue and green economies and enhancing flexible infrastructure, technology through investing in opportunities resulting from the technological revolution, artificial intelligence and digital infrastructure, in addition to global supply chains by reshaping them to achieve greater sustainability and stability, and finally demographics by investing in population changes to drive investment.

At the end of his speech, he called on the participants to enhance international cooperation in investment to achieve sustainable and comprehensive growth, praising the joint efforts between investment promotion agencies and international institutions to achieve the conference’s goals.

Saudi Arabia will host the 28th Annual World Investment Conference (WIC) in Riyadh from November 25 to 27, 2024, organized by the “Invest in Saudi Arabia” platform in partnership with the World Association of Investment Promotion Agencies (WAIPA), under the patronage of His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister.

The conference focuses on harnessing digital transformation and sustainable growth by expanding investment opportunities, bringing together a group of prominent global figures from the public and private sectors, major investors, representatives of international organizations and bodies, and entities concerned with developing, diversifying and enhancing investment.