SAUDI ARABIA

Al-Falih begins US visit, highlights new investment opportunities in Saudi Arabia

October 20, 2021
Minister of Investment Khalid Al-Falih speaks at the Milken Institute Global Conference in Los Angeles on Wednesday.
Minister of Investment Khalid Al-Falih speaks at the Milken Institute Global Conference in Los Angeles on Wednesday.

WASHINGTON — Minister of Investment Eng. Khalid bin Abdulaziz Al-Falih began on Wednesday a visit to the United States, aimed at highlighting Saudi Arabia as a major global investment destination.

The visit comes in the wake of Crown Prince Mohammed bin Salman, Deputy Prime Minister and Chairman of the Council of Economic and Development Affairs, launching Saudi Arabia's National Investment Strategy last week.

During the visit, the minister will meet with a group of US officials to enhance the ongoing strategic trade and investment partnership between the United States and Saudi Arabia. The visit also aims to encourage American investors to seize the opportunities offered by the great economic transformation that the Kingdom is experiencing, as well as the unprecedented avenues of investment that have become available in many economic sectors, as a result of the launch of Saudi Vision 2030.

As part of his US itinerary, Al-Falih spoke on Wednesday at the Milken Institute Global Conference in Los Angeles about the role of the National Investment Strategy in attracting foreign investors and companies.

Al-Falih will meet in Washington, DC, with a number of influencers, decision-makers and chief executives of a group of companies based in the United States.

In a statement on his visit, Al-Falih said the National Investment Strategy would lead to a great change in the investment landscape in the Kingdom, which will provide unprecedented opportunities and advantages for investors.

He added, "We consider US investors to be our partners, and we hope that they will seize the tremendous opportunities presented as part of our transformation. American innovation and expertise have a long and rich history in the Kingdom. In addition, we seek that American investments continue its fundamental role in the economy of the Kingdom of Saudi Arabia, which is moving towards a new promising stage in its development."

The National Investment Strategy aims to make Saudi Arabia one of the 15 largest economies in the world, and increase the investment share to 30% of GDP by 2030. — SPA

October 20, 2021
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