Global Investment Center
The large presence of leaders and decision makers in the third edition of the Future of Investment Initiative, held under the patronage of the Custodian of the Two Holy Mosques, in the presence of His Royal Highness the Crown Prince, reflects the global interest in the Kingdom's future plans to diversify sources of income, the importance of the Saudi economy and its impact on the global level, and the Kingdom's transformation into an attractive investment destination and a center of global investment, to the extent that it has been described as the new destination for those wishing to invest.
This huge economic event attracted a myriad of world presidents and ministers, with the participation of delegations from North America, Asia, Europe, South Africa and the Middle East.
It succeeded in imposing itself in the global economy arena, where its open meetings with world leaders and decision makers in various countries seek to explore the emerging sectors that will shape the International investment scene and the future of the global economy over the coming decades.
The patronage of the Custodian of the Two Holy Mosques, the attendance of the Crown Prince in the events and the facilities made by His Highness to promote the Saudi economy confirm the government's support for the economic transformation, the achievement of objectives and ambitions, benefit from investment opportunities, enhancement of investment climate, attraction of global investors and companies, continuation of strengthening the pillars of national economy and support of economic development to go on with creating new jobs, as the Saudi market has become one of the major markets wherein investors aspire to start doing business.
The Kingdom enjoys the main attractions of investments. Its efforts in attracting foreign investments and organizing such global initiatives are moving in the right direction in line with Vision 2030.
In figures, the General Investment Authority (GIA) issued 291 foreign investment licenses during the second quarter of this year alone, with an increase of 103% over the first quarter, the double of figures registered in the same period of 2018. In two years, the investment environment in the Kingdom saw the implementation of 55% of 300 economic reforms, a matter which put it among the most competitive economies in the world.
Therefore, it was not strange for the Kingdom to make a qualitative achievement in the World Bank Group's Doing Business 2020 report, by jumping 30 rankings, making it the most advanced and reformed country among 190 countries worldwide.