International investors are welcome: Jadaan

Mohammed Al-Jadaan

Saudi Gazette report

Davos — Saudi Arabia is really open for investment, welcoming international investors all the way, Finance Minister Mohammed Al-Jadaan told CNBC on the sidelines of the World Economic Forum in Davos.

“We have just signed a couple of deals with the private sector, two weeks ago, a third one, last week, and three deals in the next couple of weeks,” he said.

Jadaan said the Kingdom is diversifying the economy and income.

“Our non-oil revenue has grown significantly in the last four years, three times, 300%. We intend to continue our fiscal reform, and control our deficit, and, so far, we have been very successful,” he said.

The minister said investors have expressed confidence in the economy and in the commitment to making sure that the reform continues, at all levels, legal, economic, fiscal, and social.

“We have significant social reform taking place in Saudi Arabia, that is embraced by the people, and we are responding to the people's needs.”

In response to a question on Lebanon, Jadaan said Saudi Arabia has been, and continue to be, a very important catalyst of stability in Lebanon.

“We are interested to see stability in Lebanon, and we will support Lebanon all the way.”

“We are supporting the region, we are talking to our allies in the region. We are helping countries that need support. We wanted to make sure that Saudi provides the stability and the hope that the region needs,” he said.