Riyadh: Minister of Investment Khalid Al-Falih affirmed that the Kingdom has successfully established itself as an attractive destination for global investments. He pointed to the directives of His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister to facilitate and empower multinational companies, noting that the number of international companies licensed to operate in the Kingdom has now reached 700. He added that the Kingdom is also working to facilitate the operations of international institutions and organizations such as the United Nations.
According to Saudi Press Agency, Al-Falih said that the Kingdom is proceeding with the implementation of a comprehensive roadmap aimed at making it one of the most competitive environments for family businesses to grow and prosper globally. This affirmation came during his participation in a panel discussion at the ninth edition of the Future Investment Initiative (FII9) Conference. The panel also included former UK Minister for Investment Gerry Grimstone and Chairman of the Board of Directors of the National Center for Family Businesses Ghassan Al-Sulaiman.
He stated that the Kingdom is an attractive destination due to its stable legislative and investment environment, emphasizing its commitment to maintaining the continuity and transparency of these regulations to further attract and empower family businesses. He highlighted ongoing efforts to simplify regulatory and legislative procedures, increase flexibility, and accelerate licensing processes, noting that the Kingdom is actively working to enable family investors worldwide to benefit from its advanced investment ecosystem.
The minister pointed out that the national economic model, established nearly 100 years ago, was built upon family businesses, which have been a core driver of the Kingdom’s economic growth alongside public-private partnerships. He affirmed that these companies remain a fundamental pillar of the national economy and that the Ministry of Investment is striving to further empower them.
Al-Falih added, ‘The market capitalization of the Saudi stock market is approximately $3 trillion,’ projecting a 20% increase over the next seven years-a figure that reflects the strength and diversification of the Saudi economy. He affirmed that the Kingdom continues to develop financial and legislative incentives to attract investments, saying that the ‘Invest Saudi’ platform will contribute to showcasing opportunities available to global investors. This includes expediting procedures related to exemptions and facilitating cross-border capital transfers in cooperation with financial institutions. He emphasized that the Kingdom listens to the needs of global investors and translates them into tangible opportunities as part of its ongoing efforts to create a competitive investment environment that supports sustainable economic growth.
Grimstone praised Saudi Arabia’s strategic location and abundant resources, noting that venture capital firms in the Kingdom are playing a significant role and encouraging the new generation to seize the opportunities available.
Participants in the session emphasized that family businesses are catalysts for economic prosperity. They also noted that the transition between generations remains one of the key challenges these businesses face, underscoring the importance of developing long-term strategies to ensure continuity and success.
