Saudi Ministry of Education to showcase innovations at 2025 Geneva International Exhibition    7,523 violators of residency, labor, and border security laws deported in a week    Video contradicts Israeli army account of deadly March 23 strike on Gaza paramedics    Saudi Arabia spends over $241 million to implement de-mining projects in 3 countries    Italy's Meloni government approves controversial security decree expanding police protections and penalties    Egypt submits new Gaza ceasefire and prisoner exchange proposal: Report    'Everything is possible' — Ronaldo focused on titles, not 1,000-goal milestone after Riyadh Derby win    Saudi, US military leaders discuss enhanced defense cooperation in Riyadh    King Salman Global Academy for Arabic Language launches program with Indiana University    Ronaldo brace powers Al Nassr past Al Hilal in Riyadh derby thriller    Ed Sheeran weaves Persian music into new song, Azizam    Al-Jadaan: Crown Prince's directives confirm government's ability to bring back balance to real estate market    Veteran Bollywood actor Manoj Kumar dies at 87    Foreign investors are allowed to engage in real estate business outside Makkah and Madinah Commercial speculation should not be the purpose of real estate transaction    Aubameyang fires Al Qadsiah into King's Cup final with stoppage-time winner over Al Raed    Musk's X is suing India, as Tesla and Starlink plan entry    Tesla sales plunge after backlash against Elon Musk    Danilo Pereira fires Al Ittihad into King's Cup final with dramatic stoppage-time double    Screen time in bed linked to insomnia, study finds    Mexico bans junk food in schools to fight childhood obesity epidemic    Sweet sales surge ahead of Eid as Saudi chocolate imports top 123 million kg in 2024    Bollywood actress vindicated over boyfriend's death after media hounding    Grand Mufti rules against posting prayers and preaching in mosques on social media    King Salman prays for peace and stability for Palestinians in Ramadan message King reaffirms Saudi Arabia's commitment to serving the Two Holy Mosques and pilgrims    Exotic Taif Roses Simulation Performed at Taif Rose Festival    Asian shares mixed Tuesday    Weather Forecast for Tuesday    Saudi Tourism Authority Participates in Arabian Travel Market Exhibition in Dubai    Minister of Industry Announces 50 Investment Opportunities Worth over SAR 96 Billion in Machinery, Equipment Sector    HRH Crown Prince Offers Condolences to Crown Prince of Kuwait on Death of Sheikh Fawaz Salman Abdullah Al-Ali Al-Malek Al-Sabah    HRH Crown Prince Congratulates Santiago Peña on Winning Presidential Election in Paraguay    SDAIA Launches 1st Phase of 'Elevate Program' to Train 1,000 Women on Data, AI    41 Saudi Citizens and 171 Others from Brotherly and Friendly Countries Arrive in Saudi Arabia from Sudan    Saudi Arabia Hosts 1st Meeting of Arab Authorities Controlling Medicines    General Directorate of Narcotics Control Foils Attempt to Smuggle over 5 Million Amphetamine Pills    NAVI Javelins Crowned as Champions of Women's Counter-Strike: Global Offensive (CS:GO) Competitions    Saudi Karate Team Wins Four Medals in World Youth League Championship    Third Edition of FIFA Forward Program Kicks off in Riyadh    Evacuated from Sudan, 187 Nationals from Several Countries Arrive in Jeddah    SPA Documents Thajjud Prayer at Prophet's Mosque in Madinah    SFDA Recommends to Test Blood Sugar at Home Two or Three Hours after Meals    SFDA Offers Various Recommendations for Safe Food Frying    SFDA Provides Five Tips for Using Home Blood Pressure Monitor    SFDA: Instant Soup Contains Large Amounts of Salt    Mawani: New shipping service to connect Jubail Commercial Port to 11 global ports    Custodian of the Two Holy Mosques Delivers Speech to Pilgrims, Citizens, Residents and Muslims around the World    Sheikh Al-Issa in Arafah's Sermon: Allaah Blessed You by Making It Easy for You to Carry out This Obligation. Thus, Ensure Following the Guidance of Your Prophet    Custodian of the Two Holy Mosques addresses citizens and all Muslims on the occasion of the Holy month of Ramadan    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Saudi Forum 2017 to tackle opportunities as govt aims to hike FDI to 5.7% of GDP
Published in The Saudi Gazette on 27 - 04 - 2017

Saudi Arabia is aiming to increase the foreign direct investment from 3.8% of its current GDP to about 5.7% in 2017, as part of its efforts to diversify its economy and boost investment inflows into the kingdom.
Policymakers in Riyadh are also continuing to look for ways to cut spending in a bid to offset the impact of lower oil prices on the biggest Arab economy. Reform and austerity are the buzzwords in the kingdom, which has restructured its subsidy model to save billions of dollars annually, slashed salaries of ministers and curbed perks of some of the government sector employees, as it tries to bridge its fiscal gap. These initiatives are expected to help reduce the Saudi Arabia's budget deficit in 2017 to $97 billion from $118 billion last year.
These efforts are part of Saudi Arabia's Vision 2030 Plan and National Transformation Program, updates on which are set to be revealed at the Saudi Arabia Forum 2017, a Jumana House event organized by MEED, that will gather together influential figures from government and businesses to discuss the opportunities and challenges in the kingdom.
The forum, to be held on May 9, 2017 at the Mövenpick Hotel in Riyadh, will ensure complete coverage of the latest market information, project updates, macroeconomic insight, whilst also addressing strategic labour issues and solutions to ensure the kingdom's sustainable economic growth.
"Saudi Arabia continues to be the biggest and the most important market in the region," said MEED Editorial Director, Richard Thompson. "The announcement of Vision 2030 and the National Transformation Program, sets out a roadmap for the future direction of the kingdom's economy and the pipeline for the capital investment projects over the next 15 years."
"But the plan introduces new mechanisms for delivery that require change in the way both business and government work together. Saudi Arabia Forum 2017 is a valuable and important occasion to come together to discuss the opportunities and challenges the future has to offer."
How well the government has managed its resources in the wake of falling oil revenues and how it can it infuse growth in its economy through reform and diversification will be dissected and discussed at the forum, proving stakeholders key insights on how to leverage new opportunities and mitigate risks.
Among the highlights of the conference include a series of ministerial presentations that will provide updates on Saudi Arabia's Vision 2030 and National Transformation Program, including Insight into the statistics behind the 2030 Vision by His Excellency Dr. Fahad Bin Sulaiman Al Tekhaifi, Deputy Chairman of the Board, and President, General Authority for Statistics (GaStat), Saudi Arabia; as well as Labor market challenges, new policies to lead the National Transformation Programme and a zoom in on Nitaqat 3.0 by Dr. Ahmed Kattan, Deputy Minister of Labor Policies, Ministry of Labor and Social Development.
A panel session on the mechanisms for attracting foreign and domestic investments is among other highlights focusing on private sector initiatives, intended to diversify Saudi Arabia's economy and support future economic development, as well as discussions on enhancing the competitiveness of the kingdom through development of economic cities on par with leading trade and business hubs across the globe.
Also of interest to the international community is how Saudi Arabia will realize its commitment to transitioning to a female inclusive workforce, increasing the number of employed women from 22% to a more significant 30% of its working population.
With demand growing for the latest updates on Saudi Arabia's development plans, attendance at the Saudi Arabia Forum is expected to be high. Early registration is encouraged at www.saudiforum.meed.com. — SG


Clic here to read the story from its source.