In his speech at the 24th Arab-German Business Forum organized by the Arab-German Chamber of Commerce and Industry in Berlin during the period from 4 to 6 October, Dr. Riyadh Al-Khorayef pointed to the strength of the Saudi economy, stressing that the Kingdom faced the global crisis from a position of strength and that the government laid the foundations for strong growth led by the private sector, supported by Vision 2030.
He added, “Thanks to the strong foundations that the Saudi economy enjoys, the Kingdom is now witnessing a recovery. If we look at the first half of this year, we will find that the real non-oil GDP grew by 5.4%, and the private sector grew by 7.5%, exceeding pre-existing levels. The pandemic and this is a clear indication that domestic demand is very strong, which indicates the abundance of investment opportunities in the Kingdom.”
On the future of investment in the Kingdom, Dr. Al-Khorayef stressed that “the future of investment in the Kingdom is very bright,” noting that the Kingdom ranks high according to the Human Development Index (HDI), and ranks second globally among the G20 countries in this year’s Digital Competitiveness Report.
He also explained that investing in the Kingdom provides a unique opportunity to integrate into the G20 economy and with strong growth potential, as Saudi companies have a strong set of capabilities and assets in many areas, “and these include the investments launched by Vision 2030, including the privatization program, the Public Investment Fund, Partner Program, and the Saudi Capital Market,” adding that the Kingdom has launched the Saudi Green Initiative and the Green Middle East Initiative, which will contribute to providing many investment opportunities.