Al-Falih highlighted key milestones in Saudi Arabia’s emergence as a global investment hub at the 28th World Investment Conference (WIC) in Riyadh. The growth of green and blue economies, alongside strategic supply chain innovations, are central to Saudi Arabia’s Vision 2030. The Kingdom’s post-oil future is driven by foreign direct investment (FDI), with a focus on climate action and trade.

The World Investment Conference (WIC), organized by Invest Saudi and The World Association of Investment Promotion Agencies (WAIPA), hosted several sessions focused on “Harnessing Digital Transformation and Sustainable Growth: Scaling Investment Opportunities” in Saudi Arabia. Attended by over 2,000 stakeholders from 130 countries, the WIC in Riyadh showcased a comprehensive blueprint for a futuristic Kingdom, emphasizing the country’s strategic investments in digital transformation, sustainable growth, and scaling investment opportunities.

To champion a sustainably developing economy in the region, Saudi leaders and global investors shared valuable insights on driving change and innovation. In a panel discussion featuring Faisal F. Alibrahim, Saudi Minister of Economy and Planning, Eng. Hassan El-Khatib, Minister of Investment and Foreign Trade of Egypt, and Samir Abdelhafidh, Minister of Economy and Planning of Tunisia, the crucial role of investment promotion agencies (IPAs) in the Kingdom’s growth was highlighted. According to the panel, IPAs are essential for sustaining FDI-led growth, offering an alternative path to navigate the evolving geopolitical dynamics in the Middle East.

Engaging sessions, such as the World Bank’s masterclass on ‘Investor Services 2.0’ at WIC, bridged the gap between eager SMEs, Saudi Arabian investors, and relevant government officials. As non-oil economic activities increasingly contribute to Saudi Arabia’s GDP, it is crucial for the Kingdom to regularly assess the resilience of its existing systems to accommodate real-time changes in the region.