Saudi Arabia offers a wide range of advantageous conditions that makes it an attractive global investment destination, said Investment Minister Khalid al-Falih on Tuesday at the annual financial conference in Saudi Arabia, Future Investment Initiative (FII).
Falih stressed that despite the global headwinds including high inflation, high interest rates and supply chain disruptions, Saudi Arabia is well positioned to manage the challenges: “In Saudi Arabia… many of these challenges actually play to our strengths. The Kingdom has one of the lowest costs of capital. If you consider our risk premium on borrowing, the Kingdom is quite competitive.”
He highlighted that investors around the world want “a stable country, politically, economically, from a monetary standpoint, [and with] a currency that’s pegged to the US dollar.”
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Falih emphasized that Saudi Arabia’s “investment thesis is set for the long term” and is not “fluctuating from year to year.” He said the Kingdom “ticked all the boxes” in terms of the conditions investors look for in a country.
In terms of interest rates, Falih said: “While we’re still impacted by sustained interest rates and we hope they’re not sustained for too long, we hope that tabletop comes back down sooner rather than later. But while it’s up, I think it presents investors with an opportunity in Saudi Arabia that is perhaps better than many other competing locations.”
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