Foreign investments in Saudi Arabia climb to SAR 400 bln: ElKuwaiz

Mohammed El-Kuwaiz, Chairman of Capital Market Authority

Opening the Saudi Exchange (Tadawul) to foreign investors and its inclusion in global indices boosted foreign investments to SAR 400 billion, which is equal to the total market cap less than 20 years ago, Mohammed ElKuwaiz, Chairman of the Capital Market Authority (CMA), told Euromoney Conference in Riyadh today, Sept. 7.

He added that Saudi Arabia’s strong economic growth rates must continue and be sustained to achieve the most important goals of the Vision 2030 and help the Kingdom rank among the 15 major economies in the world by 2030.

ElKuwaiz stressed the need to build new economic sectors in Saudi Arabia, which requires intensifying investment rates in the national economy. He pointed to the transformation witnessed by the Kingdom from a money-exporting to money-importing country.

Saudi Arabia introduced initiatives to enhance local investment and strategies to support international investment, such as the National Investment Strategy and Shareek program, ElKuwaiz said.