WOMEN in the workforce, the price of crude and the economic impact of geopolitical tensions will be discussed at this year’s Euromoney Saudi Arabia Conference. The event, which will take place in Riyadh on May 2-3, brings together international bankers with senior government and business figures from across the Kingdom of Saudi Arabia. At the opening panel debate, business leaders will assess the progress being made towards Saudi Vision 2030, the ambitious program of reforms announced by the Kingdom’s Crown Prince Muhammad Bin Salman, deputy premier and minister of state for defense, just over two years ago. “This session will provide an opportunity to explore a number of key areas, such the oil price recovery and the impact of payment technology,” said Victoria Behn, Euromoney Conference’s Head of Middle East and Africa. “The impact of female empowerment will be a particularly interesting area, and the drive to help more women — and young adults — enter the Kingdom’s workforce will be considered within a broader economic and geopolitical context.” One of the economic aims of the Vision 2030 reform agenda is to raise women’s participation in the workforce from 22 percent to 30 percent by 2030. Speakers on the panel will include Wassim Al Khatib, managing director, head of investment banking, NCB Capital; Ibrahim Saad Al-Mojel, director general, Saudi Industrial Development Fund; Mazen Al Sudairi, head of research, Al Rajhi Capital; Jan Friederich, head of Middle East and Africa Sovereign Ratings, Fitch Ratings; and Katherine Garrett-Cox, managing director and chief executive officer, Gulf International Bank (UK). One of the longest-running and most successful conferences in the Kingdom, The Euromoney Saudi Arabia Conference has specialized in focusing expert insight on a broad range of issues that shape business and banking confidence. Panel members will give their thoughts on the direction of the energy market and oil prices, as fears arise that the growth of shale production could jeopardize the sector’s recovery. Members of OPEC (the Organization of the Petroleum Exporting Countries) remain split on pricing strategies, and speakers will also look at the strategies of fellow outliers Russia and China. In addition, as cashless transactions become more widespread, Saudi Arabia is exploring the potential of payment technology with an eye on slashing bureaucracy and tackling corruption. Yet the Kingdom is still largely a cash-based society, meaning some citizens risk being left behind. How should the country ensure all its citizens benefit as it undergoes this digital transformation? The ‘Saudi and the Global Economy: 2018 to 2019’ panel will be held on the first day of the conference. The Euromoney Saudi Arabia Conference is organized in conjunction with Saudi Arabia’s Ministry of Finance. In 2018, the conference will review the progress made so far on key initiatives including the infrastructure development program, reform of the bankruptcy laws, and the much-anticipated IPO of a stake in Saudi Aramco. In addition, market experts will assess the potential impact that could result from the Tadawul Index’s inclusion in the MSCI Emerging Market Index, which could bring significant additional liquidity into the Kingdom’s equities. A decision is expected in June 2018. The Kingdom has seen a number of new mega-projects and significant investments announced already this year, along with government efforts to reduce subsidies and tackle a predicted deficit of $52 billion for 2018. Speakers from the Kingdom will include Mohammed Al-Jadaan, minister of finance, Dr. Majid Bin Abdullah Al Qasabi, minister of commerce and investment, Dr. Ahmed Abdulkarim Alkholifey, governor, Saudi Arabian Monetary Authority; Mohammed El-Kuwaiz, chairman, Capital Market Authority, and Khalid Abdullah Al Hussan, chief executive officer, Tadawul. They will be joined by James Forese, president and CEO, Institutional Clients Group, Citigroup; Samir Assaf, CEO, global banking and markets, HSBC; and Takumi Shibata, president and CEO, Nikko Asset Management. “This will be a pivotal year for Saudi Arabia,” said Behn. “The shock of subdued oil prices is dissipating, and a clearer picture of the Kingdom’s economy is now emerging. Initiatives such as the Aramco float and the restructuring of Saudi Arabia’s Public Investment Fund into a global sovereign wealth fund will be foremost in delegates’ minds this May, and we expect a lively and informed discussion.” Over the two days, keynote speakers will provide insights into challenges and opportunities reshaping the country’s changing economic landscape, from balancing the budget and the impact of VAT, to finding new sources of revenue. The conference will be preceded by two exclusive ticketed executive briefings, offering the opportunity to hear from local and international experts on new listings on the stock market and the rise of real estate investment trusts (REITs). — SG