Al-Falih: Saudi strategy doesn’t see outside investors as a vehicle for achieving bigger objectives.

Khalid Al-Falih, the minister of investment, emphasized the value of reputable investors, both Saudi and foreign, in advancing localization and increasing local content.

Saudi Arabia places a high value on local content, localization, and foreign investors, according to him, and its strategy does not view the presence of international investors as a means of achieving more significant objectives.

Al-Falih made the comments on Monday at the opening session of the Local Content Forum, which was headlined “The influence of local content on the national economy.”

The local content restrictions, according to him, are only a tool and not a means to an end. “We must distinguish between localization and local content, which is one of the regulatory and legislative tools that various nations utilize within limited parameters to accomplish larger objectives and policies for localization,” says the author.

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Al-Falih claimed that foreign investors visiting the Kingdom are seeking out the local market and expertise while also utilizing the Kingdom’s capacity to acquire expertise on a global scale. He emphasized the need of encouraging both domestic and international investment, claiming that doing so would temporarily stimulate the local economy and result in the removal of any regulatory limitations or financial incentives offered in return for local content.

Al-Falih noted that the world economy has started to alter radically and progressively and that it now focuses on technology, information, and services in the tourist industry and its localization. He added, “We are proud of the fact that the Saudi market is strong and healthy.”