The 28th World Investment Conference (WIC) in Riyadh concludes with a call for international collaboration, innovation and sustainability.
International collaboration, innovation and sustainability were the central themes of the 28th edition of the World Investment Conference (WIC28), organized by Invest Saudi and the World Association of Investment Promotion Agencies (WAIPA), which concluded this week in Riyadh.
Commenting on the success of the event, His Excellency Khalid A. Al-Falih, Saudi Minister of Investment, said: “This event was held under the auspices and patronage of His Royal Highness the Crown Prince and Prime Minister, Prince Mohammed bin Salman bin Abdulaziz Al Saud, to whom we express our deepest gratitude for his visionary leadership and constant support.”
“Over three days, we addressed the critical challenges facing global investment and explored the many opportunities it presents. From thought-provoking discussions on digital transformation and sustainable growth, to landmark deals announced under Saudi Arabia’s Global Supply Chain Resilience Initiative, WIC28 reaffirmed our collective commitment to a future built on collaboration, innovation and resilience.
“Guided by the principles of Vision 2030, Saudi Arabia has emerged as a global leader in economic growth, fostering partnerships that transcend borders and sectors. Together, we have demonstrated the value of strategic alliances, local value chains and cutting-edge technologies to generate significant economic impact.
“I would like to extend my thanks to the World Association of Investment Promotion Agencies for partnering with us in hosting this event, and I am confident that the ideas, connections and agreements reached here will resonate far beyond this event, inspiring transformative investment and sustainable policies around the world.”
During the three days, the theme “Leveraging digital transformation and sustainable growth“, served as a common thread for discussions on the opportunities and challenges of digital transformation, sustainability, and value chain localization. The conference highlighted Saudi Arabia’s Vision 2030 as an innovative model for fostering global partnerships, technological advancement, and sustainable development.
His Excellency Bandar Ibrahim Alkhorayef, Minister of Industry and Mineral Resources, spoke at the session on “Strategic Alliances: Leveraging Partnership for Investment Success” and underlined the Kingdom’s commitment to promoting global partnerships:
“International cooperation is not a question of possibilities, but of how to implement it and identify attractive concepts that make its application effective.”
He noted that incentives offered by Saudi Arabia include its advanced infrastructure – digital and physical – focused on manufacturing, supply chain and logistics, which allows investors to significantly reduce costs. “We have approved three economic zones, which offer additional benefits to those who target not only the local but also the global market,” he added.
Other sessions at the event included the discussion “Bridging Borders,” which focused on transparent collaboration and regulatory cohesion, while “To Finish First, First You Have to Finish” examined operational excellence in Investment Promotion Agencies (IPAs), emphasizing governance, efficiency, and the use of technology to enhance investor experiences. Finally, “Ready, Set, Go” delved into Saudi Arabia’s efforts to attract investment in specialized sectors, particularly advanced manufacturing and renewable energy, highlighting the Kingdom’s competitive advantages.
The event was held from November 25 to 27 in Riyadh, Saudi Arabia. Where the next edition will be held is yet to be decided.
About (WIC): https://waipa.org/wic-info/
*Source: AETOSWire
See original version on businesswire.com: https://www.businesswire.com/news/home/20241128040726/it/
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