Saudi Arabia is set to expand its bond offerings, highlighting significant growth opportunities in the Kingdom’s financial sector, according to Investment Minister Khalid Al-Falih
Speaking at the UK-Saudi Sustainable Infrastructure Summit in London on June 24, Al-Falih acknowledged that while business opportunities in the Kingdom have grown rapidly, parts of the financial sector, particularly in bond trading, remain underdeveloped. He emphasized the importance of sustainable energy, positioning Saudi Arabia as a leader in global economic growth and renewable energy.
Al-Falih pointed out that despite the acceleration in business opportunities, some financial sector aspects, such as bond penetration and trading, need further development. He predicted that bond offerings would grow through increased activity, presenting significant growth opportunities in Saudi Arabia. He also stressed the crucial role of sustainable energy, aiming for 50% of the Kingdom’s energy sources to be renewable by 2030.
Saudi Ambassador to the UK, Prince Khalid bin Bandar, highlighted the strengthening relationship between Riyadh and London, which continues to grow stronger. He emphasized the Kingdom’s mission to ensure continuous opportunities for its residents and pointed out the expansive growth potential across all industries. Bandar underscored Saudi Arabia’s ambitious renewable energy goals and the continuous doubling of its renewable energy capacity.
The ambassador noted the danger of missing out on the promising investment opportunities in Saudi Arabia, encouraging investors to seize the growing opportunities. He emphasized the bright future of the Kingdom’s industries, especially the financial sector. Nadhmi Al-Nasr, CEO of NEOM, spoke about strengthening infrastructure alliances with Britain. He described NEOM as the world’s largest sustainable region, aiming to be carbon neutral by 2030, and highlighted the opportunities for innovative green technology partnerships.
Alderman Professor Michael Mainelli, Lord Mayor of the City of London, praised Saudi Arabia’s “Vision 2030” as a strategy for economic and social transformation. He highlighted major projects, including infrastructure initiatives worth $800 billion, and emphasized the importance of technology and sustainability in the Kingdom’s future growth. Mainelli pointed out that Saudi Arabia’s embrace of new technologies like hydrogen and AI would drive it toward its net-zero and climate goals.
The UK’s collaboration with Saudi Arabia is set to enhance the Kingdom’s financial sector, particularly through bond market expansion and sustainable energy initiatives. The Summit underscored the mutual benefits of these partnerships and the vast growth potential in various sectors within Saudi Arabia.
