مجلس نيوز | majlis-news
His Excellency the Minister of Investment, Eng.Khalid bin Abdulaziz Al-Falih, affirmed that the Kingdom of Saudi Arabia has dealt with the repercussions of the crisis caused by the Corona Covid-19 pandemic in a manner in which it surpassed many countries, through the wise leadership that demonstrated the Kingdom’s resilience and its superior ability to deal with crises It has strengthened investor confidence, as foreign direct investment in the Kingdom increased in 2020 by a greater rate than the previous year.
This came in a session entitled “The Improvement Mechanism: What is the Impact of Interdependence on the Process of Activating International Investment”, within the sessions of the Future Investment Initiative Forum, with the participation of His Excellency the Minister of International Cooperation of the Arab Republic of Egypt, Dr. Rania Al-Mashat, and His Excellency the Chairman of the Board of Directors.
Dubai Ports World Executive Sultan Ahmed Bin Sulayem, UK Minister of State for Trade Affairs Lord Jerry Grimston, Deputy Chairman and General Manager of Mollis and Company Eric Cantor, and CEO of the Russian Direct Investment Fund Kirill Dmitriev, which addressed policies aimed at promoting investment And commercial partnerships, including reflecting the prevailing facts and geopolitical situations.
Al-Falih expressed his optimism about the future of the global economy, noting that the world went through similar circumstances 100 years ago, as he faced the Spanish fever, and then he was able to rise and benefit from the economic recovery, and today the world is facing the Corona pandemic, but with greater and more advanced capabilities.
Al-Falih highlighted a set of changes that occurred during 2020, including consumption patterns and technology uses, in addition to trade tensions and changing corporate strategies, and ending with the pandemic’s impact on supply and demand and foreign direct investment.
On the legislation and regulations of the investment environment in the Kingdom, Engineer Al-Falih emphasized that the Kingdom is continuing to create an exceptional investment environment, as it has changed and amended more than 200 legislation out of 400, which it has worked to reform to meet the needs of investors, and as a result, the Kingdom has made great leaps in global indicators related easily Doing business.
His Excellency indicated that the pandemic demonstrated the importance of technology and future sectors, such as the data industry, the logistics sector, biotechnology and others, stressing that the Kingdom is focusing on developing its capabilities in the future sectors, and industries need to enhance the strength of the digital infrastructure in order to grow and prosper, supported by the necessary legislation and regulations, and achieving this comes on The top priority of the Ministry of Investment.
For her part, the Minister of International Cooperation of the Republic of Egypt explained that the Corona pandemic and the accompanying crises have enshrined the importance of working in a spirit of cooperation between countries, stressing the importance of supporting the principles of economic diplomacy, and pushing more economic opportunities, to include important projects such as transport, energy and small and medium enterprises, in cooperation with International institutions, calling for the need to set acceptable conditions for investment.
For his part, Vice Chairman and General Manager of “Molise and Company” Eric Cantor highlighted a set of possible opportunities to get out of the current crisis, including focusing on attracting foreign investments, as well as working on investing in industries that the state depends on, which you may not see. Other countries are important to them, in order to achieve a better life. For his part, the CEO of Dubai Ports World stated that in 2020 everyone gained experience in how to deal with the challenges that emerged during the Corona pandemic by adhering to many requirements.
He stated that sufficient availability of the Corona vaccine will limit the increase in cases, especially with the escalation of infection registration in some countries of the world.
The Minister of State for Trade in the United Kingdom, Lord Gray Grimston emphasized the importance of bridging the gap between policy makers and investors by attracting them to the heart of policies, dealing with their investment ambitions, and discussing the obstacles facing them and overcoming them.
In turn, the CEO of the Russian Direct Investment Fund addressed his country’s pursuit of further cooperation with the Kingdom of Saudi Arabia, to implement many initiatives, especially since the Kingdom is one of the most attractive and dynamic countries in the world, indicating that work is underway with the Ministry of Investment and the Investment Fund. Public services in the field of technology, to make the Kingdom from a consumer in some sectors to a producer, as well as investing in other joint ventures.