RIYADH — The Custodian of the Two Holy Mosques King Salman underscored the importance of economic diversification to reduce dependence on oil. Income diversification was among the most important issues highlighted in King Salman's strategy as it reduces investment risks by branching out into more than one sector, thus increasing the sources of income. This brings into recollection the past actions of some investors when they invested most of their capital in the stock market which eventually negatively affected other economic sectors. Specialization is believed to empower the economy. However, many economic theories disagree with this concept. Also local and international success stories prove the opposite. Naif Al Rajhi, Chairman of Naif Al Rajhi Investment Company, validates the importance of income diversification. He said "diverse investment companies thrive on successful risk management and qualified human capital, and these are the pillars of success for Naif Al Rajhi Investment Company, incorporating more than 30 companies and providing more than 17 services in 11 different sectors." Naif Al-Rajhi added: “We cannot overlook other important aspects through which investment companies operate, such as global expertise, creative thinking, and professional scientific and practical tools, which allow the company to achieve its objectives." Naif Al Rajhi Investment Company, a leading Saudi group, pursues its investments based on knowledge and global expertise in various effective and influential sectors, headed by the real estate and financial markets sectors. In addition, the company invests in many fields such as private equity, facilities management, industrial sector, marketing and communication, e-commerce, hospitality, F&B and social entrepreneurship.
Naif Al Rajhi Investment Company reinforced its presence in the UAE and is seeking to expand its business in the world through its headquarters in the United Kingdom. — SG
