Saudization will not be forced on investors: minister

Saudization will never be forced upon investors, as it needs to happen organically: Khalid Al-Falih

  
Saudi Arabia's Minister of Investment Khalid Al Falih gestures during the opening session of the Future Investment Initiative Conference in Riyadh, Saudi Arabia, October 26, 2021.

Saudi Arabia's Minister of Investment Khalid Al Falih gestures during the opening session of the Future Investment Initiative Conference in Riyadh, Saudi Arabia, October 26, 2021.

Reuters/Ahmed Yosri
RIYADH Minister of Investment Khalid Al-Falih said that the idea of Saudization will never be forced upon investors, as it needs to happen organically. He said this while addressing a panel session at the fifth edition of the Future Investment Initiative (FII) in Riyadh on Tuesday.

Lauding the Kingdom’s response to COVID-19 pandemic, Al-Falih said: “The COVID-19 caused a shock to the business sector, but Saudi Arabia proved its resilience in facing it. We provided COVID-19 tests and vaccines to more than 10 million expatriates so far,” he said.

The minister said that the Saudi youth is the country’s biggest dividend and resource. “Saudi Arabia invests in its population, which is our greatest resource today. Our youth is a great asset for employers to benefit from and we are confident that they will achieve great success.”

“The Kingdom is preparing talent for new jobs as we invest in the education engine in preparing the workforce,” Al-Falih said while adding that the private sector needs to take risk with the youth of the country in order to create a balanced portfolio.”
 

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