Senior banking leaders and representatives of major financial institutions will be in Riyadh this May to participate in the 9th Euromoney Saudi Arabia Conference.

The conference, which was named as the “best national and regional conference on the Saudi economy” by the Council of Ministers, will be co-hosted with the Saudi Ministry of Finance from May 6 to 7.

The event will see some of the key players in finance sector discussing crucial issues facing the country and the global economy today, said the organisers.

A major session on capital markets will look at the development of Saudi Arabia’s stock exchange, and examine the careful steps being taken to allow greater foreign direct investment and enhance the regulatory framework, they added.

The Saudi bourse, the Tadawul, has a market capitalisation of $417 billion, and sees around $1.3 billion traded every day, making it the region's most liquid market by a significant margin.

However, the authorities recognise the need to open the market beyond the current base of retail investors in the Kingdom. International banks including HSBC Holdings have suggested that Saudi Arabia's market may open to foreigners as early as this year.

Tadawul CEO Adel Al-Ghamdi will be taking part in the keynote discussion chaired by Euromoney to examine the changes affecting the Tadawul and the road ahead for the Arab World’s largest stock market.  

The others top officials taking part in the discussion include Salah Garawi, the head of Corporate Finance at Saudi Aramco; Yasser Al-Sharif, the CEO of Manafea Holding Company and Nina Lagron, the senior fund manager at Amundi Asset Management.

Infrastructure investment is another area of the Saudi economy seeing significant development. Due to the rising population and on-going economic growth, the Kingdom is looking to raise significant funds to support transport, water, power and housing projects, looking to a mix of public and private investment.

Euromoney said it is gathering the key players involved in these projects to discuss the investment opportunities and the potential challenges that lie ahead.

The panel on infrastructure will include representatives from NCB, the Bechtel Group, ACWA Power and Saudi Kuwait Finance House, bringing a range of perspectives to the debate.  
 
Euromoney Conferences’ regional director, Richard Banks, said: "Each of our panels will feature national and international financial leaders who are playing an active role in shaping the future of the Saudi economy."

"With senior government representatives, private sector chief financial officers and major bankers, this conference is set to be a crucial event for financiers and investors working in and with the Kingdom," he added.

The key officials representing the government will be Dr Ibrahim Al-Assaf, Minister of Finance; Dr Muhammad Al-Jasser, Minister of Economy and Planning; Dr Shwaish Al-Dowaihy, Minister of Housing; Adel Fakeih, Minister of Labour; and Majid Al-Moneef, Secretary General of Saudi Supreme Economic Council.

Other senior officials attending the event include Charles Dallara, the executive vice chairman of the board and chairman of the Americas of Partners Group (US); Ambroise Fayolle, the chief executive officer of Agence France Trésor and representatives of some of the Kingdom’s key enterprises, including senior officials from the Public Pension Agency, NCB, Etihad Etisalat Mobily, Sabic, Al Rajhi Capital, and Jadwa Investment.

Major global institutions represented at the event will include HSBC, BNP Paribas, and The World Bank.

The Euromoney Saudi Arabia Conference is the longest-running, largest and most influential financial summits in the Kingdom. It will take place at the Al Faisaliah Hotel in Riyadh on 6 and 7 May 2014 and is expected to attract around 1,200 delegates from all over the region and the world.-TradeArabia News Service