In the presence of more than 2000 participants and a wide range of leading experts, personalities and decision makers in the financial and investment sectors, the \u201cEuromoney Saudi Arabia 2019\u201d conference and the accompanying exhibition, organized by Euromoney International in partnership with the Ministry of Finance, concluded last week at the Four Seasons Hotel in Riyadh, in the presence of a number of ministers and heads of the financial system sectors, and a number of officials and specialists in the financial and economic sector at the local and international levels. ( Kingdom Economy )<\/p>\n
During the opening ceremony, Mohammed Al-Jadaan, Minister of Finance, announced that the inclusion of the Saudi market in major international indices contributed to attracting foreign financial flows amounting to 76 billion riyals, thus expanding the investor base in the financial market and improving its liquidity levels.<\/p>\n
Al-Jadaan added that 18 new licenses were issued to international financial companies operating in the Kingdom, noting the Kingdom's significant progress in the Minority Protection Index to the seventh place globally, and the IMD Global Competitiveness Rankings during the current year, advancing 13 places from last year to rank 26th.
\nAl-Jadaan emphasized that the holding of this conference comes after three years of positive progress resulting from the comprehensive reforms that the Kingdom is witnessing in order to achieve the objectives of \u201cVision 2030\u201c, and confirms the government's commitment to achieving the objectives of the \u201dVision\u201d, which will lead to a comprehensive economic transformation, a major shift in the structure and performance of the Kingdom's economy, the contribution of the private sector, the accelerated use of technology in many fields, and the high level of services provided in the financial sector, explaining that fiscal policies in the Kingdom focus on achieving a balance between sustaining financial stability, promoting economic growth and supporting the economic transformation phase.<\/p>\n
He emphasized the improvement in economic performance indicators and the participation of the private sector, as indicated by real GDP growth rates, which reached 1.7 percent in the first quarter of 2019, compared to 1.4 percent in the first quarter of 2018, and real non-oil sector growth reached 2.1 percent, driven by private sector growth of 2.3 percent compared to 1.7 percent in the same quarter last year.<\/p>\n
Foreign direct investment inflows increased by 23.8 percent in the first quarter of this year, with increased investment opportunities available to the private sector. The total credit facilities provided to SMEs by banks and finance companies in the first half of 2019 amounted to 113 billion riyals, an increase of 11.6 percent compared to the similar period of the previous year, in addition to improved banking performance to reach total assets and liabilities of commercial banks during the second quarter of 2019, reaching 2.4 trillion riyals, registering a 3 percent increase, equivalent to 69.1 billion riyals compared to a rise in the second quarter of 2019.<\/p>\n
For his part, during the dialogue session on the second day of the conference, the Deputy Governor of the Saudi Arabian Monetary Agency for Supervision, Dr. Fahad Al-Shathri, stressed that the Kingdom's economy has witnessed a relative improvement over the past two years, which reflected positively on the private sector, which began to improve as shown by economic indicators represented by the increase in loans to SMEs by 5.9% of total loans, which exceeded the targets of the 2020 financial sector program, in addition to the growth in mortgage loans by 11% in the first half of this year.<\/p>\n
Dr. Al-Shathri explained that SAMA has a clear investment policy of preserving capital, liquidity, and achieving a return consistent with risk, explaining that the institution has contributed to enhancing the performance of the financial sector through the initiatives it launched in the Financial Sector Development Program, in addition to opening the market to new players, as evidenced by issuing two licenses for foreign banks and issuing 21 licenses for financial technology companies.\u201d.<\/p>\n
Amr Banaja, CEO of the General Entertainment Authority (GEA), revealed during his participation in a panel discussion at the conference that the GEA aims to organize 5,000 event days in the Kingdom during the current year 2019, pointing out that the Authority seeks to enhance its mechanisms and build an integrated sector through 3 axes, namely creating a legislative environment for the sector, promoting financing, especially for small and medium enterprises that play a pivotal role in the entertainment sector in the Kingdom, and building human capacity and developing expertise.\u201d.<\/p>\n
\u201cThe General Entertainment Authority aims to achieve the objectives of the Quality of Life Program in accordance with Vision 2030, which is the main umbrella for all entertainment events and activities held throughout the year. From this point of view, the Authority works with its partners in the private sector to organize many events in all regions of the Kingdom to attract tourists.<\/p>\n
Sessions on the second day of the conference highlighted the importance of digital transformation and the vital sectors that contribute to the Kingdom's economic growth. In addition, panel discussions at Euromoney Saudi Arabia 2019 offered solutions to promote economic sustainability. Speakers including Tadawul's Head of Markets, Mohammed Sulaiman Al Rumaih, and the Capital Market Authority's Director of Information Security, Sultan Al Khatim, discussed topics such as \u201cRegulating Digital Transformation and Risk Management\u201d, \u201cThe Development of Capital Markets in the Kingdom\u201d, and \u201dThe Real Estate Sector in the Kingdom\u201d. Victoria Behn, Director of Middle East and Africa at Euromoney, said: \u201cThe Euromoney conference had a rich agenda, highlighting important changes in several developmental sectors in the Kingdom, and we appreciate the participation of the speakers during these sessions.<\/p>\n
Ministry of Labor launches initiative to settle violations in distinguished establishments<\/a><\/p>\n Minister of Housing honors Al Rajhi Bank with the Best Financing Bank Award in the \u201cResidential\u201d program 2019<\/a><\/p>\n General Authority for Zakat and Income Tax (GAZT) urges companies subject to VAT to submit their returns<\/a><\/p>\n Ministry of Justice makes more than 10,000 commercial rulings available to the public via its online portal<\/a><\/p>\n Makkah set to host the world's largest 4,200-room Fuku hotel<\/a><\/p>\n \u00a0 \u00a0Ministry of Commerce and Investment allows companies to electronically amend their commercial register<\/a><\/p>\n Aldar implements AED 5 billion worth of strategic projects for Abu Dhabi government<\/a><\/p>\n 3073 organizations have completed their registration procedures<\/a><\/p>\n Saudi Contractors Authority's registration of national and foreign companies continues to grow<\/a><\/p>\n Itqan Real Estate sold it for SAR 414 million. <\/a><\/p>\n \u201cTasfeeq\u201d announces that Jeddah notaries have started emptying the contribution lands of the Safwa scheme<\/a><\/p>\n Under the patronage of the Minister of Housing Deutsche Gulf Bank enters into a 2.25 billion financing agreement with Saudi Real Estate Refinance Company<\/a><\/p>\n Ministry of Housing signs 600 contracts with beneficiaries of Asfan housing scheme north of Jeddah<\/a><\/p>\n Awqaf Investment Company plans to establish a hotel real estate fund in Medina in cooperation with Al Ahli Financial<\/a><\/p>\n \u201cRiyadh Development establishes Tanal Real Estate Investment and Development Co. Riyadh Real Estate Investment and Development Company<\/a><\/p>\n \u201cRiyadh Development establishes Tanal Investment and Real Estate Development Company.<\/a><\/p>\n Receives SAR 800 million in credit facilities<\/a><\/p>\n Real Estate Fund announces that early 2020 will see the announcement of the last waiting lists of beneficiaries<\/a><\/p>\n Ministry of Housing signs 600 contracts with beneficiaries of Asfan housing scheme north of Jeddah<\/a><\/p>\n Awqaf Investment Company plans to establish a hotel real estate fund in Medina in cooperation with Al Ahli Financial<\/a><\/p>\n \u201cRiyadh Development establishes Tanal Real Estate Investment and Development Co. Riyadh Real Estate Investment and Development Company<\/a><\/p>\n Minister of Housing honors Al Rajhi Bank with the Best Financing Bank Award in the \u201cResidential\u201d program 2019<\/a><\/p>\n General Authority for Zakat and Income Tax (GAZT) urges companies subject to VAT to submit their returns<\/a><\/p>\n Ministry of Justice makes more than 10,000 commercial rulings available to the public via its online portal<\/a><\/p>\n <\/p>\n Reading time: <\/span> 4<\/span> Minutes<\/span><\/span>\u0628\u062d\u0636\u0648\u0631\u00a0\u00a0\u0623\u0643\u062b\u0631 \u0645\u0646 2000 \u0645\u0634\u0627\u0631\u0643\u060c \u0648\u0646\u062e\u0628\u0629 \u0648\u0627\u0633\u0639\u0629 \u0645\u0646 \u0623\u0628\u0631\u0632 \u0627\u0644\u062e\u0628\u0631\u0627\u0621 \u0648\u0627\u0644\u0634\u062e\u0635\u064a\u0627\u062a \u0648\u0635\u0646\u0627\u0639 \u0627\u0644\u0642\u0631\u0627\u0631 \u0641\u064a \u0642\u0637\u0627\u0639\u0627\u062a \u0627\u0644\u0645\u0627\u0644 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\u0639\u062f\u062f \u0645\u0646 \u0623\u0635\u062d\u0627\u0628 \u0627\u0644\u0645\u0639\u0627\u0644\u064a \u0627\u0644\u0648\u0632\u0631\u0627\u0621 \u0648\u0631\u0624\u0633\u0627\u0621 \u0642\u0637\u0627\u0639\u0627\u062a \u0627\u0644\u0645\u0646\u0638\u0648\u0645\u0629 \u0627\u0644\u0645\u0627\u0644\u064a\u0629\u060c \u0648\u0639\u062f\u062f \u0645\u0646 \u0627\u0644\u0645\u0633\u0624\u0648\u0644\u064a\u0646 … Read more<\/a><\/p>","protected":false},"author":10,"featured_media":26710,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_seopress_robots_primary_cat":"0","_seopress_titles_title":"\u0627\u0642\u062a\u0635\u0627\u062f \u0627\u0644\u0645\u0645\u0644\u0643\u0629 .. \u0645\u0624\u062a\u0645\u0631 "\u064a\u0648\u0631\u0648\u0645\u0648\u0646\u064a \u0627\u0644\u0633\u0639\u0648\u062f\u064a\u0629 2019" \u064a\u062e\u062a\u062a\u0645 \u0623\u0639\u0645\u0627\u0644\u0647 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\u0627\u0644\u0645\u0627\u0644","comment_count":"0","_links":{"self":[{"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/posts\/26709","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/comments?post=26709"}],"version-history":[{"count":0,"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/posts\/26709\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/media\/26710"}],"wp:attachment":[{"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/media?parent=26709"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/categories?post=26709"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/tags?post=26709"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Economy of the Kingdom<\/h3>\n
Economy of the Kingdom<\/h3>\n
Economy of the Kingdom<\/h3>\n
<\/h3>","protected":false},"excerpt":{"rendered":"