Saudi Arabia achieves progress, proves flexibility post-COVID-19, says Al-Falih

Minister of Investment Khalid Al-Falih

Saudi Arabia achieved progress and proved flexibility despite the blurry outlook that accompanied the COVID-19 outbreak, said Minister of Investment Khalid Al-Falih at the Future Investment Initiative (FII).

The Kingdom put a high priority on maintaining jobs and supply chains unaffected during the pandemic, the minister added.

“The pandemic came as a shock to the business enterprise sector; it taught us different lessons in various fields,” Al-Falih noted.

Al-Falih indicated that investment is a means to fulfill the objectives of Saudi Vision 2030 and to overcome the global crises, adding that an investment strategy was mapped out for all business sectors.

Saudi Arabia sponsors talented candidates for new jobs, invests in its youth, capitalizes on the non-oil resources, increases Saudization rates in the private sector and further supports the digital transformation, the minister added.

Al-Falih underpinned the challengingly high energy prices, which requires the global companies to pump more investments in the energy conversion projects to achieve price balance in the long term.