<During his participation in the panel discussion titled “Leaders of Public-Private Alliances” within the 9th edition of the Future Investment Initiative Conference, His Excellency pointed out that the Kingdom's economy is no longer based on oil, and (40%) of the Kingdom's budget and expenditures are funded by non-oil revenues, and (90%) of foreign direct investment in the Kingdom is non-oil, indicating that the Kingdom has achieved more progress and transformation in new and interesting sectors, such as: advanced manufacturing, technology and tourism: Advanced Manufacturing, Technology, Tourism, Entrepreneurship, Deep Tech, and Venture Capital.
He emphasized that the Kingdom has been able to overcome many obstacles such as: Corona pandemic, oil declines, and regional tensions, thanks to large reserves and high stability, which is a strength of the Kingdom, pointing out that the non-oil economy increased to (5%), indicating that the past two years have witnessed more new and promising investment opportunities in the Kingdom, including artificial intelligence and acceleration in digital transformation, noting that major national projects continue their work and some are preparing to open their doors.
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H. His Excellency concluded by emphasizing that the Kingdom strongly believes in a strong partnership between the private sector and the government sector that stands behind the private sector and even with partnerships with foreign investors, noting the Kingdom's commitment to minimizing barriers to trade.
Participants in the session pointed out that the Kingdom has witnessed a number of new and promising investment opportunities, including artificial intelligence and the acceleration of digital transformation. The panelists pointed out that the energy-related sectors are promising and full of innovation that will build a better future for humanity, noting that partnerships between the public and private sectors will contribute to reaching the goals in a shorter period of time.
Participants noted the importance of partnerships between the public and private sectors. Participants highlighted the importance of harmonization between the public and private sectors to face challenges and shocks, pointing out that high flexibility and operations would achieve many promising investment opportunities that provide balance in the market in general, noting that governments should work to establish clear frameworks for the work of the public and private sectors, which will pave the way for more investment opportunities between all countries.
Participants pointed out that partnerships between the public and private sectors will contribute to reaching the goals in a shorter period of time.
