HH Al-Faisal: saudi Arabia experiencing a comprehensive renaissance as 2030 flashes

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Ashraf Abo Arafe

According to local and international facts and figures, His Royal Highness Prince Turki Al-Faisal affirmed the strength of the Kingdom’s economy and its attractiveness. He pointed out that the Kingdom is witnessing a comprehensive and strong renaissance of the future in all fields and that there are great opportunities for the participation of all international companies in supporting the implementation of the Kingdom’s projects.

This came in a speech at the annual forum of BMG Group at its 13th session yesterday at the London Stock Exchange in the presence of a number of directors of Saudi and British financial and trade companies.

* 2030 flashes!

A number of specialists and those interested in the financial and investment field in the forum gathered on the strength of the Saudi economy and its attractiveness to foreign investment and opportunities in light of the programs and initiatives of the Kingdom Vision 2030 and its 13 operational programs.

* Infrastructure & cash projects!

The Kingdom’s plans will allow British companies to contribute actively to the Kingdom’s projects in various fields, especially infrastructure, new and cash projects, building schools, hospitals, education, industry and technology transfer, as well as services, administrative and financial sectors and financial technology.

* Ambatios plans!

A number of speakers expressed their optimism about the ambitious plans that have been put into practice on the ground, such as Neom Bay Airport, and the start of the initial phases of these mega projects that will require advanced and specialized companies to enter independently or in partnership with Saudi companies or through an alliance between several companies to contribute effectively to the implementation of those projects.

* Significant regulations!

Chris Woods, Corporate Governance, Risk and Policy Officer at FTSE Russell, highlighted the significant development of legislation, regulations and listing mechanisms, including levels of transparency, disclosure and protection of investors’ rights.

* Promising Saudi market!

He praised the accession of Tadawul to the FTSE Russell Index, which started its first phase in March this year, stressing that by the end of the third phase of accession, foreign investors expressed their satisfaction to invest in the promising Saudi market.