Saudi Arabia is an ‘unprecedented’ land of investment opportunities for the future, said Minister of Commerce and Investment Dr. Majed Al-Qasabi at the Future Investment Initiative 2019 in Riyadh.
He added that these opportunities are coupled with the mega projects under the umbrella of the Saudi Vision 2030.
“The Kingdom offers a robust business environment. It is a G20 member and the largest economy in the area,” he added.
Al-Qasabi highlighted a list of promising sectors such as mining, healthcare, tourism, entertainment, culture, and logistics.
Commerce minister also praised the Kingdom’s ranking among the world’s top 10 improvers in the World Bank Group’s ‘Doing Business 2020’ report released earlier this month, noting that achievement is a testimony to the progress it has taken to ease doing business and fight bureaucracy.
Read more: Saudi Arabia ranks among top 10 improvers in World Bank’s Doing Business 2020 report
On the role of Saudis, Al-Qasabi shed light on the fact that 80 percent of the Saudi population is under 45 years, which he said is very promising.
When asked about the investment opportunities in Asia, a key focus of the session, the minister said “Asia is a new investment hub and has a great potential.”
Asia dominated 60 percent of the world population, 64 percent of the marine shipping industry, 60 percent of world new inventions, 48 percent of world’s students and 40 percent of tourists, he noted.
“Asia can be divided into several categories; China with an independent economy, Singapore, Japan, India, which are known for being mature economies, then come Bangladesh, Vietnam, and Saudi Arabia,” he concluded.
Write to Christine El Cheikh at christine.elcheikh@argaamplus.com
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