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Arabian Business, Saturday, May 23, 2020 | Ramadan 30, 1441

Saudi Arabia remains an attractive investment, says BlackRock exec

Saudi Arabia: Saudi Arabia remains an attract investment even amid the ongoing Covid-19 pandemic, according to a senior executive from global investment management corporation BlackRock, the world’s largest asset manager.

In a webinar on Tuesday, Terrence Keeley, global head of the official institutions group at BlockRock, said that “the kingdom is an attractive investment on both relative and absolute levels.”

“International investors are interested in obtaining solid sources of returns,” he added. “The kingdom retains many attractive investment opportunities including investment infrastructure.”

In his remarks, Keeley also praised Saudi Arabia’s low levels of government debt and “strong commitment” to business.

“Saudi Arabia is for us a place….where there’s a possibility for resilient investment opportunities,” he added.

In September 2019, BlackRock opened an office in Riyadh to help seek opportunities in the kingdom and across the wider Middle East.

The New York-based company was also a “substantial investor” in Saudi Aramco’s inaugural dollar bond earlier in 2019, according to CEO Larry Fink.

“The region is not perfect. No region in the world is perfect,” Fink said last year. “The fact that there are issues in the press doesn’t tell me I should run from a place. I tells me we should run to a place.”

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