Saudi Arabia has become a premier world investment destination and is experiencing unprecedented growth in overall investment amounts and diversity, said Khalid Al-Falih, Minister of Investment of Saudi Arabia.

 

“This year’s World Investment Conference in Riyadh is a platform for sharing our nation’s strategic vision with our partners, and an invaluable opportunity to highlight our status as a trusted partner for sustainable economic growth. We are welcoming investment leaders from around the world to forge partnerships that will benefit both the kingdom and global economies,” Al-Falih added.

 

Global leaders in investment, government and international organisations are taking part in the 28th annual World Investment Conference (WIC) which has opened in Riyadh.

 

Under the patronage of Crown Prince and Prime Minister Mohammed bin Salman bin AbdulAziz Al Saud, the World Association of Investment Promotion Agencies (WAIPA) and Invest Saudi are organising the event until November 27 under the theme, ‘Harnessing Digital Transformation and Sustainable Growth: Scaling Investment Opportunities’.

 

Prime destination

Saudi Arabia has become a prime destination for international investors, issuing over 28,900 foreign investment licenses, thanks to reforms under Vision 2030. These reforms, including allowing 100% foreign ownership in specific sectors and streamlining business and visa procedures for rapid approvals, have significantly boosted investor confidence. 

 

This investor friendly climate, especially in sectors like renewable energy, logistics and AI, reflects the kingdom’s dedication to creating an attractive and efficient business environment, and helps to build a resilient economy for Saudi Arabia that stands at the forefront of global innovation and development. 

 

Ismail Ersahin, Executive Director and CEO of WAIPA said: “WAIPA is excited to bring the 28th WIC to Riyadh, a city that perfectly embodies the future of investment. The conference will provide a crucial platform for Investment Promotion Agencies and investors to discuss emerging opportunities in a rapidly evolving global landscape. We deeply appreciate Saudi Arabia’s vision and leadership, which will ensure that this edition of WIC is an impactful gathering for all participants.”

 

Conference tracks

Key highlights of WIC 2024 include a range of conference tracks, such as high-level government dialogues, insightful sessions on technology, sustainability, and economic cooperation, as well as practical masterclasses for investment professionals. 

 

A dedicated entrepreneurship track will emphasise the transformative role of startups and innovators, while exclusive matchmaking sessions will facilitate strategic partnerships between investors, SMEs, and potential collaborators.

 

Participants will also have the opportunity to celebrate the achievements of Investment Promotion Agencies through the Awards Track, honoring innovation and excellence in investment facilitation. 

 

Pivotal forum

This year’s WIC promises to be a pivotal forum aligned with global investment drivers: the disruptive influence of technology and artificial intelligence (AI), global supply chain resilience, energy transition towards sustainability, and the transformative role of entrepreneurs and startups in reshaping investment landscapes traditionally led by multinational corporations. Leaders and stakeholders will discuss and explore how these factors are redefining economies and driving forward-looking investment models worldwide.

 

With its focus on scaling investment opportunities, WIC 2024 is designed to empower attendees with the tools, knowledge, and connections necessary to drive meaningful economic impact.--TradeArabia News Service