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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.
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.”
What's your reaction about this news🥰𝙒𝙚 𝙝𝙤𝙥𝙚 𝙩𝙝𝙖𝙩 𝙮𝙤𝙪 𝙡𝙞𝙠𝙚𝙙 𝙩𝙝𝙞𝙨 𝘼𝙧𝙩𝙞𝙘𝙡𝙚. 𝙋𝙡𝙚𝙖𝙨𝙚 𝙨𝙝𝙖𝙧𝙚 𝙞𝙩 𝙬𝙞𝙩𝙝 𝙮𝙤𝙪𝙧 𝙁𝙧𝙞𝙚𝙣𝙙𝙨 𝙖𝙣𝙙 𝙨𝙪𝙗𝙨𝙘𝙧𝙞𝙗𝙚 𝙩𝙤 𝙤𝙪𝙧 𝙬𝙚𝙗𝙨𝙞𝙩𝙚 𝙗𝙮 𝙘𝙡𝙞𝙘𝙠𝙞𝙣𝙜 𝙤𝙣 𝙩𝙝𝙚 𝘽𝙚𝙡𝙡 𝙄𝙘𝙤𝙣 (𝙇𝙚𝙛𝙩 𝘽𝙤𝙩𝙩𝙤𝙢 𝙤𝙛 𝙩𝙝𝙞𝙨 𝙋𝙖𝙜𝙚) 𝙩𝙤 𝙧𝙚𝙘𝙚𝙞𝙫𝙚 𝙣𝙤𝙩𝙞𝙛𝙞𝙘𝙖𝙩𝙞𝙤𝙣𝙨 𝙛𝙤𝙧 𝙚𝙫𝙚𝙧𝙮 𝙏𝙧𝙚𝙣𝙙𝙞𝙣𝙜 𝙖𝙧𝙩𝙞𝙘𝙡𝙚.🥰
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