Dr. Mohammed bin Abdullah Al-Jadaan, Minister of Finance of the Kingdom of Saudi Arabia, has lauded the macroeconomic policy in the Kingdom of Saudi Arabia and its pivotal role in achieving the Kingdom Vision 2030 in light of the remarkable transformation witnessed by the Kingdom, pointing out to the comprehensive reforms in various sectors in the Kingdom, including modernization and diversification of the economy in order to reduce dependence on oil. This came in Al-Jadaan's speech at the Saudi Investment Forum, which was held in New York yesterday and hosted by" J. P. Morgan", in the presence of a number of senior executives in the Saudi companies and international financial companies. He expressed pleasure to set broad lines of the Kingdom Vision 2030 and the progress made until now in addition to the available huge opportunities for foreign investment, pointing out that the Kingdom is in the midst of an unprecedented economic transformation. He confirmed that its vision represents a very clear roadmap for its destination. "We are currently seeing large-scale reforms, including correcting energy prices, focusing on supporting small and medium enterprises, preparing government-owned companies for privatization, public-private partnerships and transforming the Public Investment Fund (PIF) into one of the largest sovereign wealth funds in the world," the minister was quoted as saying to highlight the economic reforms in the Kingdom. Casting light on the Kingdom's economic community, Al-Jadaan stated that it has begun to reap the fruits of these reforms through a more stable working environment and greater confidence for investors. This is evidenced by the successful issuance of international and local debt securities in the Kingdom, he said, adding that the initial international Sukuk was launched in April, attracting great attention from international investors where the subscription forms reached more than $ 33 billion. --More 18:12 LOCAL TIME 15:12 GMT www.spa.gov.sa/1676297
