Latest news with #Al-Falih
Gulf Insider
13-05-2025
- Business
- Gulf Insider
Al-Falih: Saudi Arabia To Invest $600 Billion In US Over 4 Years
Minister of Investment Khalid Al-Falih reaffirmed Saudi Arabia's efforts to deepen its investment relations with the United States over the next four years, by pumping $600 billion. 'This initiative comes within the framework of achieving the aspirations of Crown Prince and Prime Minister Mohammed bin Salman,' the minister said. Al-Falih made the remarks in his opening speech at the Saudi-US Investment Forum at the King Abdulaziz International Conference Center in Riyadh on Tuesday. High-ranking officials from both countries are taking part in the forum being held on the sidelines of the landmark visit of US President Donald Trump to Saudi Arabia. Al-Falih commended the size and caliber of the American and Saudi investment delegations, reflecting both countries' commitment to advancing cooperation and continuing over 90 years of strong bilateral relations built on trust, partnership, and a shared focus on achieving mutual economic interests. 'From the very outset, these relations have been driven by unprecedented demand for energy, coupled with Saudi ambition and American expertise,' he said. The minister noted that these relations have resulted in the establishment and growth of Saudi Aramco, one of the largest energy companies in the world. 'While the energy sector remains a core focus of our relations, investment and business opportunities in the Kingdom have expanded significantly under Vision 2030,' he said while emphasizing that the Kingdom has promising investment opportunities in diverse sectors, including energy, mining, industry, construction, development, renewable energy, biotechnology, tourism, hospitality, banking and financial services, artificial intelligence, data storage, and cloud computing. Al-Falih pointed out that these opportunities have been enabled by Saudi Aramco's policies and Saudi efforts to achieve market stability. 'This has led to lower inflation rates and market volatility. The Kingdom has the lowest rate of economic volatility and fluctuations, in addition to its massive cash reserves, which have contributed to improving the Kingdom's credit rating despite global fluctuations,' he pointed out. Al-Falih said that the Saudi stock market is among the ten largest and fastest-growing markets in the world, and that the venture capital sector is witnessing remarkable development. He emphasized that trust is the cornerstone of Saudi Arabia's relations, the roots of which go back to a historic meeting between the founder of modern Saudi Arabia King Abdul Aziz, and US President Franklin Roosevelt in 1945. The minister said that the combined efforts of Saudi Arabia and US have resulted in great achievements. 'This trust is the foundation upon which we build today to shape a future filled with opportunities, through the exchange of ideas and visions and joint work towards a better future,' he added. Al-Falih also presented the 2024 annual report on Saudi Vision 2030, highlighting the significant progress made in achieving its goals of diversifying and sustaining the Kingdom's economic resources, as well as opening new investment opportunities in key sectors. He stated that the rapid global transformations, economic fluctuations, and technological advancements will reshape the international economy, presenting significant opportunities to strengthen and expand the strategic partnership between the two countries. He emphasized the importance of building strong, sustainable partnerships to achieve mutual interests, leveraging the strengths of both Saudi and American economies, particularly through their companies. Al-Falih affirmed that the relationship between the two countries is one of the most important geopolitical connections, driven by economic cooperation and business partnerships, which serves as a catalyst for global peace and prosperity. He underscored that business opportunities in the Kingdom have grown significantly thanks to Saudi Vision 2030, which has created numerous opportunities and yielded strong investment returns.
Saudi Gazette
13-05-2025
- Business
- Saudi Gazette
Al-Falih: Saudi Arabia to invest $600 billion in US over 4 years
Saudi Gazette report RIYADH — Minister of Investment Khalid Al-Falih reaffirmed Saudi Arabia's efforts to deepen its investment relations with the United States over the next four years, by pumping $600 billion. "This initiative comes within the framework of achieving the aspirations of Crown Prince and Prime Minister Mohammed bin Salman," the minister said. Al-Falih made the remarks in his opening speech at the Saudi-US Investment Forum at the King Abdulaziz International Conference Center in Riyadh on Tuesday. High-ranking officials from both countries are taking part in the forum being held on the sidelines of the landmark visit of US President Donald Trump to Saudi Arabia. Al-Falih commended the size and caliber of the American and Saudi investment delegations, reflecting both countries' commitment to advancing cooperation and continuing over 90 years of strong bilateral relations built on trust, partnership, and a shared focus on achieving mutual economic interests. "From the very outset, these relations have been driven by unprecedented demand for energy, coupled with Saudi ambition and American expertise," he said. The minister noted that these relations have resulted in the establishment and growth of Saudi Aramco, one of the largest energy companies in the world. "While the energy sector remains a core focus of our relations, investment and business opportunities in the Kingdom have expanded significantly under Vision 2030," he said while emphasizing that the Kingdom has promising investment opportunities in diverse sectors, including energy, mining, industry, construction, development, renewable energy, biotechnology, tourism, hospitality, banking and financial services, artificial intelligence, data storage, and cloud computing. Al-Falih pointed out that these opportunities have been enabled by Saudi Aramco's policies and Saudi efforts to achieve market stability. "This has led to lower inflation rates and market volatility. The Kingdom has the lowest rate of economic volatility and fluctuations, in addition to its massive cash reserves, which have contributed to improving the Kingdom's credit rating despite global fluctuations," he pointed out. Al-Falih said that the Saudi stock market is among the ten largest and fastest-growing markets in the world, and that the venture capital sector is witnessing remarkable development. He emphasized that trust is the cornerstone of Saudi Arabia's relations, the roots of which go back to a historic meeting between the founder of modern Saudi Arabia King Abdul Aziz, and US President Franklin Roosevelt in 1945. The minister said that the combined efforts of Saudi Arabia and US have resulted in great achievements. "This trust is the foundation upon which we build today to shape a future filled with opportunities, through the exchange of ideas and visions and joint work towards a better future," he added. Al-Falih also presented the 2024 annual report on Saudi Vision 2030, highlighting the significant progress made in achieving its goals of diversifying and sustaining the Kingdom's economic resources, as well as opening new investment opportunities in key sectors. He stated that the rapid global transformations, economic fluctuations, and technological advancements will reshape the international economy, presenting significant opportunities to strengthen and expand the strategic partnership between the two countries. He emphasized the importance of building strong, sustainable partnerships to achieve mutual interests, leveraging the strengths of both Saudi and American economies, particularly through their companies. Al-Falih affirmed that the relationship between the two countries is one of the most important geopolitical connections, driven by economic cooperation and business partnerships, which serves as a catalyst for global peace and prosperity. He underscored that business opportunities in the Kingdom have grown significantly thanks to Saudi Vision 2030, which has created numerous opportunities and yielded strong investment returns.
Saudi Gazette
13-05-2025
- Business
- Saudi Gazette
Al-Falih: Saudi Arabia to deepen investment relations with US by pumping $600 billion over coming 4 years
Saudi Gazette report RIYADH — Minister of Investment Khalid Al-Falih reaffirmed Saudi Arabia's efforts to deepen its investment relations with the United States over the next four years, by pumping $600 billion. "This initiative comes within the framework of achieving the aspirations of Crown Prince and Prime Minister Mohammed bin Salman," the minister said. Al-Falih made the remarks in his opening speech at the Saudi-US Investment Forum at the King Abdulaziz International Conference Center in Riyadh on Tuesday. High-ranking officials from both countries are taking part in the forum being held on the sidelines of the landmark visit of US President Donald Trump to Saudi Arabia. Al-Falih commended the size and caliber of the American and Saudi investment delegations, reflecting both countries' commitment to advancing cooperation and continuing over 90 years of strong bilateral relations built on trust, partnership, and a shared focus on achieving mutual economic interests. "From the very outset, these relations have been driven by unprecedented demand for energy, coupled with Saudi ambition and American expertise," he said. The minister noted that these relations have resulted in the establishment and growth of Saudi Aramco, one of the largest energy companies in the world. "While the energy sector remains a core focus of our relations, investment and business opportunities in the Kingdom have expanded significantly under Vision 2030," he said while emphasizing that the Kingdom has promising investment opportunities in diverse sectors, including energy, mining, industry, construction, development, renewable energy, biotechnology, tourism, hospitality, banking and financial services, artificial intelligence, data storage, and cloud computing. Al-Falih pointed out that these opportunities have been enabled by Saudi Aramco's policies and Saudi efforts to achieve market stability. "This has led to lower inflation rates and market volatility. The Kingdom has the lowest rate of economic volatility and fluctuations, in addition to its massive cash reserves, which have contributed to improving the Kingdom's credit rating despite global fluctuations," he pointed out. Al-Falih said that the Saudi stock market is among the ten largest and fastest-growing markets in the world, and that the venture capital sector is witnessing remarkable development. He emphasized that trust is the cornerstone of Saudi Arabia's relations, the roots of which go back to a historic meeting between the founder of modern Saudi Arabia King Abdul Aziz, and US President Franklin Roosevelt in 1945. The minister said that the combined efforts of Saudi Arabia and US have resulted in great achievements. "This trust is the foundation upon which we build today to shape a future filled with opportunities, through the exchange of ideas and visions and joint work towards a better future," he added. Al-Falih also presented the 2024 annual report on Saudi Vision 2030, highlighting the significant progress made in achieving its goals of diversifying and sustaining the Kingdom's economic resources, as well as opening new investment opportunities in key sectors. He stated that the rapid global transformations, economic fluctuations, and technological advancements will reshape the international economy, presenting significant opportunities to strengthen and expand the strategic partnership between the two countries. He emphasized the importance of building strong, sustainable partnerships to achieve mutual interests, leveraging the strengths of both Saudi and American economies, particularly through their companies. Al-Falih affirmed that the relationship between the two countries is one of the most important geopolitical connections, driven by economic cooperation and business partnerships, which serves as a catalyst for global peace and prosperity. He underscored that business opportunities in the Kingdom have grown significantly thanks to Saudi Vision 2030, which has created numerous opportunities and yielded strong investment returns.
Arab News
07-05-2025
- Business
- Arab News
Lucid sticks to annual production forecast even as tariff woes hit automakers
Saudi Arabia sees no rival to US in capital markets, says Al-Falih RIYADH: Saudi Arabia views the US as unmatched in both capital markets and innovation, with no close competitor, and continues to actively invest in American institutions, a senior official stated. Speaking during a panel discussion at the Milken Institute in Los Angeles, Saudi Investment Minister Khalid Al-Falih stated that the Kingdom continues to trust and engage with US-based partners as part of its long-term economic strategy. 'There is no close competitor to the US in many aspects, certainly capital markets, their depth and their breadth, and also the innovation spirit,' Al-Falih said. He added that in the last three or four years, there has been widespread discussion about the next tectonic shift in 'how we live and how we do business and how we govern, driven by AI, which is primarily a US innovation.' Al-Falih further emphasized the Kingdom's continued engagement with American institutions: 'Our trust in the US remains strong, and we continue to work with American companies and financial institutions. We also invest in the US for the same reasons I mentioned.' He acknowledged that while the global economic landscape is undergoing a transformation, the US continues to stand out for its ability to drive technological revolutions — particularly in artificial intelligence — and for its deep-rooted institutional strength. The minister noted that current shifts in global influence are part of a long-term trend that has seen emerging markets gain ground, with the G7's share of global gross domestic product declining from 60 percent to 40 percent over the past decades. 'There has been sort of a democratization of some of the things that, psychologically, Western countries — including the US — thought they had forever, and you're seeing many countries today are able to innovate on their own and compete,' he said. Addressing broader geopolitical and economic turbulence, Al-Falih said Saudi Arabia and other Gulf Cooperation Council economies have developed the resilience to weather global shocks, including energy price volatility and regional disruptions such as the Red Sea shipping crisis. 'In the Middle East, I will just say at this outset that we have built, over the years — for unfortunate reasons — a lot of resilience because we're used to shocks. We're used to security challenges, and we have the mechanisms to absorb different types of shocks,' Al-Falih said. Despite global uncertainties, he said the Kingdom continues to see robust investment growth — both local and foreign — driven by confidence in Saudi Arabia's economic reforms and strategic positioning. 'I can tell you, as minister of investment, we're seeing very healthy investment continuing to happen in the Kingdom. A lot of it is local — driven by our private sector and our sovereign wealth fund — but a significant growth year on year from foreign investors who… do believe that, in the overall balance of things, there is more opportunity than risk,' he said. The minister concluded by emphasizing that the GCC, and Saudi Arabia in particular, offers favorable risk-return trade-offs for international investors seeking long-term opportunities. 'We are working relentlessly to make Saudi Arabia the world's most attractive investment destination — not merely a facilitator of investments,' the minister said. Al-Falih noted that the Kingdom offers investors an 'integrated, end-to-end service that supports them throughout their entire journey.' He described the Kingdom's brand as dynamic, stating: 'A nation's brand is never static; it evolves with history and global developments.' On the energy transition, the minister cautioned: 'If we rush without proper planning, we risk severe disruptions — as witnessed in the Iberian Peninsula.' 'Energy must be affordable, reliable, and sustainable — this is the cornerstone of any successful policy,' he added. Al-Falih concluded by reaffirming the Kingdom's strength stating: 'We possess the financial reserves and tools necessary to absorb global shocks and continue progressing.' In January, Saudi Arabia announced plans to expand its trade and investment ties with the US to at least $600 billion over the next four years, according to the Saudi Press Agency.
Saudi Gazette
06-05-2025
- Business
- Saudi Gazette
Saudi investment minister: US unmatched in innovation, financial markets
Saudi Gazette report LOS ANGELES — Saudi Arabia's Minister of Investment Khalid Al-Falih said the United States remains unrivaled in several critical areas — particularly financial markets and innovation — which is why the Kingdom continues to invest there. Speaking at a panel hosted by the Milken Institute in Los Angeles, Al-Falih emphasized that U.S. leadership in artificial intelligence and institutional resilience make it a compelling destination for Saudi capital. 'There's really no true competitor to the U.S. in key areas,' Al-Falih said. 'It's built on institutions, and in the end, it always does the right thing.' The session came days ahead of a planned visit by U.S. President Donald Trump to Saudi Arabia. Al-Falih described AI as a transformative American innovation, comparable to past economic revolutions like globalization, which he said helped lift many nations from poverty to prosperity. He noted that Saudi Arabia is also witnessing a surge in strong investments, most of which are domestic and driven by the private sector and the Public Investment Fund (PIF). 'We're also seeing year-on-year growth in foreign direct investment from investors who see greater opportunity than risk in the right Middle Eastern markets,' he said. Al-Falih added that the GCC region — particularly Saudi Arabia — offers a healthy balance of risk and return, making it attractive for global investors. The minister outlined the Kingdom's ongoing regulatory reforms, improved incentives, and streamlined processes as part of its drive to become the most investment-friendly country in the world. He acknowledged that the bulk of investment inflows currently stem from the PIF, but added that growing foreign interest is a strong vote of confidence in the Saudi economy. Addressing the global energy transition, Al-Falih warned that a rushed shift to renewables could cause major disruptions, especially given the intermittency of solar and wind energy. 'The challenge is not about being pro or anti-fossil fuels,' he said, 'but about managing them efficiently — they're still a vital source.' Al-Falih called for coordinated global investment in infrastructure and tools that can enhance energy system resilience at local, regional, and international levels. On climate change, he acknowledged the increasing severity of weather events, even in places like Los Angeles, and stressed the need to approach the climate reality seriously, especially with rising demand from AI, data centers, and households.
