WIC28 IN RIYADH WRAPS UP WITH EMPHASIS ON GLOBAL COLLABORATION, INNOVATION, SUSTAINABILITY

KUALA LUMPUR, Nov 29 (Bernama) -- International collaboration, innovation and sustainability were the key themes of the 28th World Investment Conference (WIC28), hosted by Invest Saudi and the World Association of Investment Promotion Agencies (WAIPA) concluded in Riyadh this week.

The event was held under the patronage of His Royal Highness Crown Prince and Prime Minister, Mohammed bin Salman bin Abdulaziz Al Saud, with Saudi Minister of Investment, Khalid Al-Falih, expressing gratitude for the Crown Prince’s leadership and support.

Minister Khalid Al-Falih noted that the event reaffirmed the collective commitment to shaping a future defined by collaboration, innovation, and resilience, with significant agreements announced, including those under Saudi Arabia's Global Supply Chain Resilience Initiative.

He also thanked WAIPA for partnering in the event, stressing that the insights and partnerships forged would have a lasting impact on global investment.

Across three days, WIC28, under the theme of “Harnessing Digital Transformation and Sustainable Growth”, addressed challenges and opportunities that included digital transformation, sustainability, and localised value chains.

The conference highlighted Saudi Arabia’s Vision 2030 as a transformative framework for aligning global partnerships, technological innovation, and sustainable development, according to a statement.

During the third day of the conference, Saudi Minister of Industry and Mineral Resources, Bandar Ibrahim Alkhorayef, spoke on the ‘Strategic Alliances: Leveraging Partnerships for Investment Success’ panel, underscoring the Kingdom’s commitment to fostering global partnerships.

Saudi Arabia’s incentives, he noted, include its advanced infrastructure, both digital and physical, focused on manufacturing, supply chain, and logistics, which enable investors to reduce costs significantly.

Other sessions at the event included discussions on transparent collaboration and regulatory cohesion, operational excellence in Investment Promotion Agencies, and Saudi Arabia’s efforts to attract investments in specialised industries, particularly advanced manufacturing and renewable energy.

The event, held from Nov 25 to 27, reinforced Saudi Arabia's role as a leader in economic growth and global investment. The location of the next WIC remains undecided.

-- BERNAMA