Saudi Gazette report

RIYADH — Saudi Arabia is committed to increasing growth through empowerment and investment in new sectors, said Khalid Al-Falih, the minister of investment, on Monday.

Despite extraordinary challenges posed by the coronavirus pandemic, the Saudi economy has demonstrated resilience and strength, he added.

Al-Falih made the remarks in an address he made at G20 Business 20 (B20) under the Saudi presidency on behalf of Custodian of the Two Holy Mosques.

The Saudi minister highlighted the G20 priority of "economic empowerment of youth and women" is pivotal to the Kingdom's future, along with "safeguarding the planet" — an ambition at the core of the Saudi giga projects such as NEOM and the Red Sea Project.

"Allow me to emphasize that most B20 priorities are similar to the current Vision 2030 transformations in Saudi Arabia," Al-Falih stressed.

The two-day virtual summit, which got under underway in Riyadh on Monday, has brought together global leaders from business, academia, civil society and international organizations to discuss the world’s most pressing economic issues. They will highlight the accomplishments of the G20's private sector.