Saudi Arabia’s investment sector has experienced growth over the past decade, with foreign direct investment (FDI) quadrupling and employment in foreign-owned companies rising by 40%, Minister of Investment Khalid Al-Falih said on Sunday.

Speaking at the second edition of the Human Capability Initiative (HCI) Conference in Riyadh, Al-Falih highlighted these milestones as key indicators of the Kingdom’s progress. Themed “Beyond Readiness,” the conference is held under the patronage of Crown Prince and Prime Minister Mohammed bin Salman, who also chairs the Human Capability Development Program (HCDP) Committee.

In his address at the King Abdulaziz International Conference Center, Al-Falih noted a substantial increase of 9 to 10 percent in foreign investment licenses issued. “The number of regional headquarters for these companies has also increased significantly, and these are all very positive indicators for Saudi Arabia,” he stated.

Al-Falih highlighted Vision 2030’s dual priorities, noting that Crown Prince Mohammed bin Salman places equal emphasis on driving investment and advancing human capability through the Human Capability Development Program (HCDP).

He highlighted the strong link between investment and education, describing human capital development as “one of the most important investments in the Kingdom.” Substantial investments in education, executive training, and vocational programs were key pillars of this strategy.

“Investment leads to skills development, which in turn impacts universities and vocational education institutions, and investors are aware of these market indicators, and this cycle continues in the Kingdom,” he pointed out.

He stressed the need for continuous upskilling to keep pace with a rapidly evolving labor market. “What people learned in the past may not be enough for the future,” he noted, calling on schools, companies, and families to play a collective role in preparing resilient, adaptable individuals.

“People are the focus and essence of this matter, regardless of the development of artificial intelligence and other similar developments,” he noted.

The HCI Conference has drawn over 300 global leaders, policymakers, and experts to Riyadh. Discussions have focused on emerging trends in human development, innovative approaches to empowering individuals and communities, and strengthening collaboration across public, private, and non-profit sectors.

Highlights include a ministerial roundtable featuring 20 ministers from around the world, a meeting of the UNESCO Executive Board, and the signing of several local and international agreements to advance human capability development.

Minister of Education and HCDP Executive Committee Chairman Yousef Al-Benyan said the conference affirms Saudi Arabia’s leadership in shaping the global future of human development.