Saudi Gazette report
RIYADH — Saudi Funding Minister Khalid Al-Falih mentioned that free commerce agreements in Africa promise a shiny future. He made the remarks whereas attending a session titled “Investing within the Future” on the Saudi-Arab African Financial Convention in Riyadh on Thursday.
He mentioned that the obstacles that forestall sustainable investments in Africa should be decreased. Al-Falih additionally famous that the Saudi Funding Fund (PIF) has an curiosity in growing its investments in Africa. “PIF is taking a look at Africa with nice curiosity and I consider they are going to be sooner or later making some game-changing bulletins about their intent to put money into Africa. Ma’aden and PIF’s three way partnership, introduced in January, goes to put money into the vital minerals in Africa,” he mentioned whereas including that the $75 billion of Saudi investments already deployed in Africa is simply scratching the floor given the good potential for extra commerce and financial help.
The work of the Saudi Arab African Financial Convention started at present, within the presence of quite a lot of ministers and elite officers within the Kingdom and Arab and African international locations, leaders of finance, enterprise and funding from the federal government and personal sectors, commerce federations, worldwide organizations, and distinguished figures in educational circles and assume tanks, to debate relations and joint cooperation alternatives.