Al-Jadaan: The Kingdom has proven its ability to build the elements of economic sustainability
Confirmed Minister of Finance Mohammed bin Abdullah The Saudi economy showed a high ability to deal with global shocks, as it recorded an outstanding performance in the post-Corona pandemic phase.
This came during the Minister of Finance’s participation in the fourth edition of the Summit "Priority"which will be held within the work of the Future Investment Initiative in Miami, United States of America, during the period from 25 to 27 March, with the participation of an elite group of business leaders, policy makers and investors from various countries of the world.
His participation came within a dialogue session entitled "Change Makers Council: A new map for investment"It discussed the transformations taking place in the global economy and the future directions of investment, in light of the rapid economic and geopolitical changes.
Determinants for evaluating investment opportunities
During the session, Al-Jadaan indicated that investors focus when evaluating investment opportunities on a number of key determinants, most notably stability, flexibility, growth potential, clarity of long-term visions and plans, in addition to achieving risk-adjusted returns.
He added that the countries most capable of attracting investments are those that have solid foundations that enable them to deal efficiently with changes and challenges, stressing that the Kingdom of Saudi Arabia has established this approach through a clear vision and long-term goals, so that flexibility has become an integral part of its economic and development approach, and not just a temporary response to the changes.
He explained that the Kingdom has proven its ability to build the elements of economic sustainability through strategic investments whose positive effects have clearly appeared at the present time, including the Eastern Pipeline. – Western, which contributes to supporting energy supplies and stability at the global level.
Dealing with global shocks
The Minister of Finance stated that the Saudi economy has shown a high ability to deal with global shocks, as it recorded an outstanding performance in the post-Corona pandemic phase, even though the volume of spending as a percentage of the gross domestic product came below the average of what the G20 countries spent, while the Kingdom’s economic growth rate exceeded the average growth of the group’s countries.
Al-Jadaan indicated that clarity of directions and policies is a long time coming. Range represents an essential element in enhancing confidence and the attractiveness of the investment environment.
He also pointed to the importance of investing in human capital as a main pillar for supporting competitiveness and enhancing growth opportunities, pointing to the Kingdom’s young national competencies today and positive societal energy that reflects the vitality of its development process and the growing confidence in its future.
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