The business sector in the Asharqia Chamber and the Minister of Investment discuss plans and mechanisms to support investment
Asharqia Chamber hosted, on Sunday, March 21, 2021, His Excellency the Minister of Investment, Eng. Khalid bin Abdulaziz Al-Falih, in a remote meeting, attended by the Chairman of the Board of Directors of the Asharqia Chamber, Abdul-Hakim bin Hamad Al-Khalidi, several representatives of the business sector in the Chamber, and representatives of the Ministry of Investment.
His Excellency the Minister of Investment, Eng. Khalid Al-Falih affirmed that the Kingdom is led by the Custodian of the Two Holy Mosques; King Salman bin Abdulaziz and His Royal Highness, and within the framework of the vision of "the Kingdom 2030" and its ambitious programs, it views the Saudi private sector as a major partner in the development process and aspires by all means to enhance the size of its contributions to the total output Local, and the national economy as a whole. It also views the promotion and diversification of national and foreign investments as one of the most important tools for achieving the goals of the vision represented in diversifying the resources of the national economy, promoting job creation for the sons and daughters of the nation, and supporting comprehensive development efforts throughout the Kingdom.
Concerning the Ministry of Investment's initiatives aimed at attracting, increasing, and diversifying investments, His Excellency the engineer indicated that among the most prominent initiatives that have been proposed or are working on being proposed; Creating special economic zones that embrace qualitative economic activities that are flexible and competitive. He pointed out, in this, the transformation that the Economic Cities Authority has witnessed in its responsibilities and field of work. He cited the example of Ras al-Khair and King Salman Energy City, which are considered one of the most prominent economic regions in the Eastern Province, and expected to launch dozens of specialized economic cities, in the coming years, in different regions of the Kingdom.
His Excellency the Minister stressed the support of industrial investment, on the basis that industry is the basic foundation of the Saudi economy, stressing that there are promising opportunities for investment in the tourism and agricultural sectors. He also spoke about the importance of the hospitality and entertainment sectors, and the integration of the efforts of the Ministry of Investment, in this regard, with the efforts of all other government agencies.
Concerning national companies and their foreign investments, His Excellency indicated that the Ministry of Investment system, through the National Company Leadership Program, is working with all its efforts to motivate national companies and help them overcome the challenges they encounter in their various investments, for these companies to achieve the desired successes and the desired positive results. And it is an example of the Saudi brand's ability to expand internationally, with professionalism and creativity, which will positively reflect on the strength and durability of the Saudi economy.
For this part, The Chairman of the Asharqia Chamber, Abdul-Hakim bin Hamad Al-Ammar Al-Khaldi, said that the national economy has witnessed since the launch of the 2030 vision in 2016 at the hands of the Custodian of the Two Holy Mosques and his trustworthy Crown Prince a great transformation and a unique leap in the business environment, confirmed by several international reports, such as the Kingdom's progress in The World Bank report for the year 2020 on the ease of doing business, to about (30) ranking to become one of the ten most advanced and reform countries around the world in doing business, and their record of an escalating growth in the volume of foreign investments, which confirms that the Kingdom is on the way to being one of the best-performing countries. In the investment markets.
It is noteworthy that Mr. Abdul-Hakim Al-Khalidi moderated the dialogue with His Excellency the Minister of Investment, and several officials of the various sectors in the Asharqia Chamber participated in the questioning of the questions. His Excellency the Minister of Investment also participated in the presentation of the explanatory information by several officials of the Ministry of Investment.
Each of the Undersecretary of the Ministry of Investment for Economic Affairs and Investment Studies participated in the meeting from the Ministry of Investment; Dr. Saad Al-Shahrani, Executive Director, Investor Business Solutions; Majid Al Saadi, Executive Director, In Charge, Regional Development; Engineer Muhammad Al-Hajjaj, Director General of the Tourism and Quality of Life Sector, Acting Majid Al-Ghanim, Secretary-General of the Special Economic Zones and Cities Authority; Nabil Khoja, CEO of the National Entrepreneurship Program; Professor Badr Al-Badr. On the Asharqia Chamber, the Vice-Chairman of the Board of Directors and Chairman of the Hospitality and Recreation Committee participated; Hamad Al-Buali, Member of the Board of Directors, Chairman of the Foreign Investment Committee; Saadoun Al-Khalidi.
