DAVOS: Saudi Arabia’s economic policies are making it a “more transparent, more competitive” prospect for investors, the Kingdom’s minister of industry and mineral resources said in Davos on Tuesday.
Bandar Alkhorayef was speaking on the “Industrial Policy 2.0” panel at the World Economic Forum.
Having a “three-dimensional approach” to its policymaking is helping Saudi Arabia create the right balance between the needs of the nation, making the best use of its natural resources and offering the best results for investors, he said.
It is important that governments are able to adapt their industrial and investment policies, especially considering the current uncertain geopolitical climate, he added.
“Policies have an expiry date. They don’t last forever, so we need to be mindful of this and move toward adjustment,” he said.
Also on Tuesday, Alkhorayef held meetings with several leaders of international companies and institutions at the forum.
He met with the CEOs of the London Metal Exchange, Medtronic, GEA Group, Clariant, Umicore and BHP.
During the meetings, Alkhorayef discussed enhancing cooperation in the industrial and mining sectors, and reviewed the Kingdom’s promising opportunities in these sectors for global investors.
The discussions also focused on trade exchange opportunities and strategies to increase the presence of Saudi non-oil exports in global markets.
Alkhorayef’s meetings form part of the Saudi delegation’s agenda at WEF this year, which began on Monday and concludes on Friday, where the overarching goal is to establish sustainable foundations for a prosperous and sustainable future.
The agenda includes a series of high-level discussions to showcase the Kingdom’s experiences and expertise in collaborating with the international community, the private sector, NGOs and academia.
Saudi Arabia ‘more transparent, more competitive’ for investors: Alkhorayef
