Saudi Arabia keen to stimulate investments at G20 summit: Al-Falih

Saudi Arabia’s investment minister Khalid Al-Falih highlighted importance of technological transformation and digital infrastructure in progress and prosperity of nations. (File/AFP)

• Saudi Arabia is an important member of the G20 due to its “political and economic influence,” says Al-Falih

RIYADH: Saudi Arabia’s investment minister said his ministry’s participation in the G20 summit in India “highlights the Kingdom’s interest in stimulating mutual investments” worldwide and “showcasing its unique investment environment,” the Saudi Press Agency reported.
Khalid Al-Falih added that a “large governmental delegation” is participating in the summit, which takes place on Sept. 9-10.
The delegation is led by Crown Prince Mohammed bin Salman, “who is spearheading an agenda with international economic and developmental dimensions.”
Saudi Arabia is an important member of the G20 due to its “political and economic influence,” its “ability to impact global economic policymaking,” and “its pivotal role when it comes to ensuring the stability of global energy markets,” Al-Falih said.
He highlighted the importance of technological transformation and digital infrastructure when it comes to the progress and prosperity of nations.
“The Kingdom has secured high rankings in global indicators related to digital transformation, quality of life, and the quality of digital infrastructure,” he said.
“Additionally, it has advanced ranks globally in the field of digital government, and achieved historic results in the e-government development indicator, as it ranked 31st in 2022, which is 12 ranks higher than in 2020.
“The Kingdom also ranked 27th out of 193 states in the 2022 Telecommunications Infrastructure Indicator.
“This was all made possible through the efforts that are being exerted to make the Kingdom a leading model when it comes to the provision of digital services.”
Al-Falih added: “Saudi Arabia ranked sixth in the 2023 Global Competitiveness Index for economic performance, and 13th in the IMD World Competitiveness Ranking for business efficiency.
“Therefore, the Kingdom became one of the best countries in the world when it comes to global competitiveness strategies.”
Since joining the G20, “the Kingdom has proven itself through effective contributions when it comes to promoting cooperation and working with all member states in order to implement the reforms needed by the global financial system, ensure the stability of financial markets, strengthen control measures, promote risk management measures, apply integrity and transparency standards, support future investment processes and promote partnerships in the field of investment,” he said.
“This stemmed from Saudi Arabia’s keenness to ensure the stability of the global economy and its growth.”