RIYADH: Saudi Arabia is aiming to increase the foreign direct investment from 3.8 per cent of its current GDP to about 5.7 per cent in 2017, as part of its efforts to diversify its economy and boost investment inflows into the kingdom. The effort is part of Saudi Arabia’s Vision 2030 Plan and National Transformation Programme, updates on which are set to be revealed at the Saudi Arabia Forum 2017, a Jumana House event being organised by Meed. The event will gather together influential figures from government and businesses to discuss the opportunities and challenges in the kingdom. The forum, to be held on May 9 at the Mövenpick Hotel in Riyadh, will ensure complete coverage of the latest market information, project updates, macroeconomic insight, whilst also addressing strategic labour issues and solutions to ensure the kingdom’s sustainable economic growth.
“Saudi Arabia continues to be the biggest and the most important market in the region,” said Meed editorial director Richard Thompson. “The announcement of Vision 2030 and the National Transformation Programme sets out a roadmap for the future direction of the kingdom’s economy and the pipeline for the capital investment projects over the next 15 years.” “But the plan introduces new mechanisms for delivery that require change in the way both business and government work together. Saudi Arabia Forum 2017 is a valuable and important occasion to come together to discuss the opportunities and challenges the future has to offer.” How well the government has managed its resources in the wake of falling oil revenues and how it can it infuse growth in its economy through reform and diversification will be dissected and discussed at the forum, proving stakeholders key insights on how to leverage new opportunities and mitigate risks. A panel session on the mechanisms for attracting foreign and domestic investments is among other highlights focusing on private sector initiatives, intended to diversify Saudi Arabia’s economy and support future economic development, as well as discussions on enhancing the competitiveness of the kingdom through development of economic cities on par with leading trade and business hubs across the globe. Also of interest to the international community is how Saudi Arabia will realise its commitment to transitioning to a female inclusive workforce, increasing the number of employed women from 22 per cent to a more significant 30 per cent of its working population.
