RIYADH, SAUDI ARABIA — Minister of Investment Eng. Khalid Al-Falih said that Saudization will never be coerced upon foreign investors. It should happen organically. He was addressing a panel session at the fifth edition of the Future Investment Initiative (FII) in Riyadh on Tuesday (26/10/2021).
The Future Investment Initiative took off in Riyadh, with the theme “Invest in Humanity” focusing on artificial intelligence, robotics, education, healthcare and sustainability.
With more than 300 speakers from all around the world, FII is the largest event on business, finance and innovation after the pandemic season which is attended by the world’s most influential leaders in business and government.
Khalid Al-Falih also added that the Saudi youth is the Kingdom’s biggest dividend and resource.
“Saudi Arabia invests in its population, which is our greatest resource today. Our youth is a great asset for employers to benefit from and we are confident that they will achieve great success.”
Through the Regional Headquarters Attraction Program of Multinational Companies, 44 MNCs received their license on Wednesday (27/10/2021) to move their regional headquarters to Riyadh. These businesses now have direct access to the region’s largest economy, enjoying financial and geographic advantages.
Minister of Investment, Eng. Khalid Al-Falih, said: “I am delighted by the number of multinational companies that have chosen to relocate to Riyadh, demonstrating that our national capital is becoming an increasingly attractive place to do business and developing into an investment destination of choice.”
Al-Falih said: “We have noted a strong response from investors in recent years, which is driving increases in FDI. As investment grows, we expect to see these investors expand their presence in the local market.”