Arab News, Saturday, Feb 15, 2020 | Jamadi Al Thani 21, 1441
Saudi Arabian General Investment Authority reveals plans for Kingdom to host FDI summit
Saudi Arabia is working closely with the UN Conference on Trade and
Development (UNCTAD) to host the first ever global FDI Summit in Riyadh in
“The summit will discuss the challenges on global FDI and feature Saudi Arabia
as a case study,” said Khaled A. Tash, deputy governor of marketing and
communications at the Saudi Arabian General Investment Authority (SAGIA), in an
“A declining FDI trend globally is not in the interest of anyone, so we want to
address these challenges, we want to discuss the solutions and want to come out
with a set of recommendations that come out from Riyadh during the G20, this is
our perspective on how we can help the global FDI trends to reflect from a
negative to a positive one,” said Tash.
He was speaking on the sidelines of the Retail Leaders Circle (RLC) MENA Summit
2020 in Riyadh earlier this week.
“One of the commitments in Saudi Vision 2030 is a flourishing retail sector,
because retail is one of the biggest job creation engines, so that’s a very
important priority for the Kingdom,” he said.
Saudi Arabia was the most improved country in the world for doing business, the
World Bank said in its report in October 2019.
The Kingdom leapt 30 places in the annual survey of business efficiency in 190
countries, and was the top reforming country, the highest ranking since the bank
launched its “Doing Business” survey 20 years ago.
The Kingdom now ranks 62nd in the world, ahead of many larger economies such as
“Last but not least, we are becoming much more effective and aggressive in our
marketing and promotional efforts,” he said.
“So two years ago we launched ‘Invest Saudi’ as a brand not only by the SAGIA
but all the government entities working as one team to promote Saudi Arabia
internationally as a platform to reach out to investors.”