|12 December, 2018

Unlocking the potential of Arab World's largest economy at the 6th Annual Saudi Trade Finance Summit

A report from the Saudi Ministry of Finance highlighted that government revenues in the first nine months of 2018 increased by nearly 50% compared to the same period in 2017.

Riyadh, Saudi Arabia: In line with Saudi's Vision 2030, the 6th edition of the annual Saudi Trade Finance summit brings together key stakeholders on the 12 and 13 December at Al Faisaliah, Riyadh to discuss trade finance regulations, strategies and trends shaping the Kingdom’s economy through trade.

A report from the Saudi Ministry of Finance highlighted that government revenues in the first nine months of 2018 increased by nearly 50 percent to SR663 billion compared to the same period in 2017. Revenues for the third quarter alone hit SR223 billion — an increase of 57 percent quarter-on-quarter — indicating that the rate of growth is increasing. Parallelly the summit will host thought provoking trade finance conversations through its informative conference sessions and unparalleled networking opportunities that emphasize on the diversification of the economy to help realize the role of financial institutions and corporates in achieving the Kingdom’s Vision through sustainable growth.

Saudi Arabia has embarked on an ambitious reform plan known as Vision 2030, spearheaded by Crown Prince Mohammed bin Salman which aims to diversify the economy which is expected to grow by 2.2 percent this year compared to a 0.9 percent contraction in 2017, according to a new research note from Jadwa Investment.

Dr. Ayedh Al Otaibi, Deputy Governor for Investment Climate, Saudi Arabian General Investment Authority will be one of the key speakers addressing the audience on Unlocking the potential of Arab World’s largest economy highlighting the importance of transforming the Kingdom’s economy through sustainable fiscal management and the road ahead for banking and finance along with the challenges and opportunities.

Mohammed Al-Malki, Vice Governor – Funding, Small and Medium Enterprises Authority will share his expert thoughts as a part of the SME Panel session that discusses diversifying opportunities for the SMEs in the Kingdom.

Other speakers include Digitization of Trade Finance and related Risk Mitigation - Anjum Noman Mirza, Head of Trade Finance Sales and SolutionsBanque Saudi FransiDriving the future of trade: Moving towards modern trade finance methods - Amr El-Solamy, Country Head of GTS & FI Trade Business, Samba Financial GroupA look at how technology is empowering finance - Gary Brocklehurst, ERP and EPM Strategy Leader, Oracle.

© Press Release 2018

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