Latest news with #KhalidAl-Falih
Saudi Gazette
2 days ago
- Business
- Saudi Gazette
Saudi, Syrian ministers discuss expanding investment cooperation
Saudi Gazette report RIYADH — Saudi Minister of Investment Eng. Khalid Al-Falih held a virtual meeting on Wednesday with Syrian Minister of Economy and Industry Dr. Mohammad Nidal Al-Shaar to discuss prospects for investment cooperation between the two countries and explore promising opportunities in the Syrian market. The meeting addressed potential public-private partnerships and ways to boost strategic investments across key productive and service sectors, with the aim of supporting economic development and fostering new avenues of regional integration. Minister Al-Falih stressed the importance of creating an enabling environment for expanding regional investment partnerships, reaffirming Saudi Arabia's commitment to supporting Syria's economic stability and growth in a manner that serves mutual interests and promotes broader regional prosperity.
Leaders
2 days ago
- Business
- Leaders
Saudi Arabia, Syria Explore Investment Cooperation
Saudi Arabia and Syria have explored avenues for investment cooperation in both countries, reported the Saudi Press Agency (SPA). On Wednesday, the Saudi Minister of Investment, Khalid Al-Falih, held a virtual meeting with the Syrian Minister of Economy and Industry, Mohammad Nidal al-Shaar, to discuss avenues for joint investment cooperation and explore the promising economic opportunities in the Syrian market. During the meeting, the two ministers discussed potential areas for public-private partnership and ways to strengthen targeted investments in the productive and service sectors, with the aim of supporting economic development and opening new channels for integration between Saudi Arabia and Syria. On his part, Al-Falih emphasized the importance of fostering an enabling environment for expanding regional investment partnerships. He also reaffirmed Saudi Arabia's commitment to supporting the stability and growth of Syria's economy in a way that benefits the mutual interests of both countries and promotes regional economic prosperity. Most recently, the Saudi Foreign Minister, Prince Faisal bin Farhan, headed a high-level economic delegation to Syria, where he met with the Syrian Transitional President, Ahmed Al-Sharaa, in Damascus. They discussed avenues for joint cooperation aimed at supporting Syria's economy, enhancing the development of its governmental institutions, and fulfilling the aspirations of the Syrian people. The discussions yielded in the announcement of a Saudi-Qatari joint financial support package for Syrian public sector employees for three months. 'This support aims to contribute to economic and social stability, improve living conditions, and reinforce development efforts in Syria,' Saudi Arabia and Qatar said in a joint statement. In April 2025, Saudi Arabia and Qatar had committed to settling Syria's outstanding arrears to the World Bank Group, which is around $15 million, in order to support and accelerate the recovery of Syria's economy. Short link : Post Views: 7
Leaders
18-05-2025
- Business
- Leaders
Hail Region Seals SR8.5 Billion Investment Deals to Spur Growth
Saudi Arabia's Hail region has secured investment agreements worth SR8.5 billion ($2.27 billion) during its flagship investment forum, advancing the Kingdom's push to unlock regional growth and attract private capital. Spanning agriculture, mining, tourism, and logistics, these agreements form part of a broader SR50 billion portfolio of opportunities unveiled at the event. Vision 2030 Fuels Regional Diversification Saudi Arabia now prioritizes untapped potential in smaller regions, luring investors to diversify beyond urban hubs, which aligns with Saudi Vision 2030's goals for a resilient, inclusive economy. The Emir of Hail witnessed the launch of SR8.5 billion in partnerships between government agencies and investors to boost economic growth. Governor Prince Abdulaziz bin Saad emphasized Hail's strategic advantages, including its connectivity across five regions, fertile land, and infrastructure development. Organized under the theme 'Be Part of the Promising Future,' the forum attracted leaders like Investment Minister Khalid Al-Falih and Deputy Environment Minister Mansour Al-Mushaiti. Over 125 investment opportunities, including 14 strategic projects worth SR34.2 billion, aim to empower local businesses. Agricultural Investments Take Center Stage Al-Mushaiti hailed Hail as a prime agricultural hub, citing SR7 billion in funding from the Agricultural Development Fund. The region now contributes over 10% of Saudi Arabia's agricultural GDP. Notably, Hail launched the Middle East's largest trout salmon project, targeting a 50% import reduction and SR5 billion in sales within a decade. Furthermore, new red meat investments will raise self-sufficiency to 61%, while a poultry project expanded to SR11 billion with a recent SR4.5 billion injection. The Saudi Reef program has allocated SR800 million to support local farmers, alongside SR1.2 billion in water and environmental projects under the Saudi Green Initiative. Al-Falih highlighted Hail's SR1.44 billion in foreign investment, with 177 licenses issued to global firms. Over 100 opportunities worth SR50 billion are now on the 'Invest Saudi' platform. A new MoU between the Investment Ministry and Hail Region Development Authority will streamline sustainable growth efforts. The forum also featured nine panel sessions covering 42 investment themes, focusing on tourism, quality of life, agriculture, logistics, energy, and education. Short link : Post Views: 2
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.
