World Economy

Saudis Set to Draw Record Foreign Investment

Saudis Set to Draw Record Foreign InvestmentSaudis Set to Draw Record Foreign Investment

With a booming stock market up 17 percent year-on-year in April this year and a renewed government program to drive investment in infrastructure, education, health and social services, Saudi Arabia is attracting more international investor attention than ever before, a report said.

The Euromoney Saudi Arabia Conference, taking place on Tuesday and Wednesday in Riyadh, will bring together global financial leaders and senior government figures to analyze whether the current boom will deliver sustainable economic growth, or the challenges that face the country will impede the positive economic momentum, TradeArabia reported.

The timing of the event is particularly significant, following the April 15 announcement by the country’s regulator that it will open the market to direct foreign investment for the first time in June.

The agenda-setting forum, which will mark its 10th anniversary, will feature leading speakers including Jean Lemierre, the chairman of BNP Paribas, the world’s third largest bank.

He will be joined by UK Sinha, chairman of the Securities and Exchange Board of India (SEBI), the regulator responsible for one of the world’s most dynamic securities markets, and Robert Parker, senior adviser, Credit Suisse, who will deliver a presentation on the international perspective on the stock exchange opening.

‘The opening of the Saudi capital markets to foreign investors is an important development for the Saudi economy and the fact that the process is being well managed in a measured way is positive for the longer term interests of investors,’ Parker said.