SAUDI ARABIA

‘Projects reflect a clear vision for the future’

October 23, 2018
Dubai Ruler Mohammed Bin Rashid Al-Maktoum (2 L), Saudi state Minister Ibrahim Al-Assaf and Pakistani Prime Minister Imran Khan (2 R) attending the opening ceremony of the Future Investment Initiative FII conference taking place in Riyadh on Tuesday.  — AFP
Dubai Ruler Mohammed Bin Rashid Al-Maktoum (2 L), Saudi state Minister Ibrahim Al-Assaf and Pakistani Prime Minister Imran Khan (2 R) attending the opening ceremony of the Future Investment Initiative FII conference taking place in Riyadh on Tuesday. — AFP

By Muhammad Makki

Okaz/Saudi Gazette

RIYADH –
Vice President of the United Arab Emirates (UAE) and Prime Minister and Ruler of Dubai Sheikh Mohammed Bin Rashid Al Maktoum expressed appreciation for the ambitious economic development the Kingdom is witnessing under the leadership of Custodian of the Two Holy Mosques King Salman and followed up by Crown Prince Muhammad Bin Salman, deputy premier and minister of defense.

Sheikh Mohammed said the projects and initiatives reflect a clear vision for the future and the wish to carry out a pivotal role in enhancing the levels of growth of the global economy, especially enhancing participation of the private sector and stimulating investments.

During his participation on Tuesday, Sheikh Mohammed praised the idea of the “Future Investment Initiative” and its goals that reflect the Kingdom’s initiatives to prepare a suitable climate for creating a joint global vision for the future of investment and the role of the private sector in giving a push to the march of development in various countries of the world.

This is especially in the light of the fast technological development the world is witnessing and the big impacts it is expected to cause with an increasing tempo in the coming stage. This will cause a change in many conventional economic concepts and practices, he said.

He added: “We are working in expanding the circle of partnership with the international investment community. We are also working in various sectors to develop joint visions for the future economy and what can be done to support sustainable development plans along with adopting the best international practices and harnessing modern technology, which forms the pillar of the coming stage in global economic development.”

This came in a statement Prince Muhammad made after attending the first session entitled “One world – Can global investment become a source of inspiration for a joint future vision?”

During the session, speakers included Khaldoun Khalifa Al-Mubarak, chairman of the executive affairs apparatus and CEO and managing director of Mubadala Investment Company; Kiril Dimitrev, CEO of the Russian Direct Investment Fund; Lubna Al-Olayyan, CEO and deputy chairperson of the board of directors of Al-Olayyan Company; and Yasser Al-Rumayyan, director general of the Saudi Investment Fund.

During the session, discussions focused on several themes, like the role of technology in pushing towards decentralization of management and the ensuing effects including deep, wide and fast changes in the tempo of development in the world economy; aside from the search for the means that will enable unifying the efforts of economic institutions, governments and international institutions after the passage of 10 years since the global financial crisis in order to create a sustainable economic growth.


October 23, 2018
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