Saudi Arabia Emerging as Global Hub for Investment and Innovation: Crown Prince Mohammed bin Salman

RIYADH, Nov 5: Saudi Arabia’s Crown Prince and Prime Minister, His Royal Highness Mohammed bin Salman bin Abdulaziz Al Saud, reaffirmed the Kingdom’s growing position as a leading global center for investment, innovation, and economic transformation during the weekly cabinet session held in Riyadh on Tuesday.

At the outset of the meeting, the Crown Prince briefed ministers on the outcomes of his recent discussions with world leaders and heads of government who visited the Kingdom to attend the Future Investment Initiative (FII) conference.

The cabinet noted that the strong international participation at the FII reflected global confidence in Saudi Arabia’s economy and recognition of its achievements and strategic vision. Ministers described the Kingdom as “an international economic destination and a global platform where leaders and innovators converge to turn visions into actionable strategies that shape the future of investment.”

Discussions during the session highlighted the resilience and adaptability of the Saudi economy, particularly its progress in diversifying beyond oil into advanced manufacturing, technology, tourism, and entrepreneurship.

Minister of Media Salman bin Yousef Al-Dossari stated that the cabinet commended the private sector’s expanding role in driving non-oil economic growth since the launch of Vision 2030, describing it as clear evidence of the success of ongoing economic reforms and the Kingdom’s favorable investment climate.

The cabinet also welcomed Saudi Arabia’s election to chair the International Organization of Supreme Audit Institutions (INTOSAI) for a three-year term beginning in 2031, calling it further proof of the Kingdom’s leadership in transparency, accountability, and governance.

Additionally, the council celebrated AlUla’s recognition at the 2025 World Travel Awards, where it received three major honors, reinforcing its status as a regional tourism hub and a vibrant reflection of Saudi Arabia’s rich cultural and historical heritage.

With these achievements, the Crown Prince reaffirmed that Saudi Arabia’s transformation journey continues to gather momentum, positioning the Kingdom as a global force for innovation, sustainable growth, and international collaboration.

— Voice of Malaysia News