JEDDAH: Saudi Arabia’s economic prospects in the context of Vision 2030 were discussed in depth at the 10th BMG Financial Forum held at the University of Cambridge in the UK recently.
BMG Financial Group hosted the forum in partnership with Institutional Investor, a subsidiary of Euromoney, which centered on Saudi Vision 2030.
Panel discussions at the forum focused on the positive impact of Vision 2030 on the Kingdom’s transformation into an economy that will further boost non-oil revenues and reduce its dependence on oil in the face of challenges posed by fluctuating downward prices.
Panels of the forum included an in-depth insight into regional geopolitics presented by Naeem Holding CEO Hussein Shobokshi
ICAP’s Group Head Sell Side Research Mazen Al-Sudairi, discussed the Kingdom’s stock market outlook, which was followed by an interactive panel discussion on the economic prospects for the Kingdom in light of Vision 2030.
Moderated by Institutional Investor, this panel included UCA CEO Machaal Karam, Saudi Gulf CEO Samer Al-Majali, Amlak International MD Abdullah Al-Howaish and Nosha CEO Saleh Al-Omair.
Al-Majali said Saudi Vision 2030 contains several positive components that are in direct relation with the aviation sector of the Kingdom. Simultaneously, the aviation sector and its upcoming anticipated developments will impact the Vision 2030 components positively. Both will mutually benefit from each other.
Al-Majali pointed out that movements both to and from the Kingdom — of both people and goods, is a vital part of the Saudi economy, and the aviation sector is working hard to ease this critical movement.
Based in Alkhobar, Saudi Gulf is one of the Saudi airlines completely owned by the private sector, and constantly works with the highest standards.
Al-Omair spoke about Vision 2030’s positive impact on the health sector. He discussed the role of the private sector in the operation and management of the Ministry of Health hospitals, as well as the investment and preventive care opportunities the transformation will provide.
Al-Omair also covered the main obstacles/challenges facing Saudi health care in achieving the Vision 2030 transformation, raising concerns about the role of health Insurance in this transformation.
The impact of the British exit (Brexit) from the EU and its impact on the real estate sector also figured in the discussion.
Nasser Shawaf, CEO of Rassmal Investments, pointed out risks posed by the Brexit, which includes the fact that the accompanying uncertainty may prevail in short- to medium-term, which could affect economic growth.
Al-Howaish discussed the Ministry of Housing's objectives, which include improving business performance of the real estate sector and increase its contribution to the country’s GDP, motivating their supply and raising productivity to provide residential housing with reasonable prices and quality, and making it easier for citizens to find more suitable options of housing finances.
He also talked about the main indicators (KPI’s) of the Ministry of Housing for 2020 in order to achieve the strategic objectives.
The forum concluded with a discussion held by Richard Fenech, partner at BMG Wealth, and Alper Apaydin, partner at AkarOne, discussing the future of wealth management and the recent political tensions in Turkey.
Prince Abdulaziz bin Faisal bin Abdulmajeed Al-Saud also attended the event.
Basil Al-Ghalayini, CEO of BMG Financial Group, hosted royalties of both countries — Prince William, Duke of Cambridge, and Prince Abdulaziz Al-Saud, at the open grounds of the polo cup.
BMG Financial Group hosted the forum in partnership with Institutional Investor, a subsidiary of Euromoney, which centered on Saudi Vision 2030.
Panel discussions at the forum focused on the positive impact of Vision 2030 on the Kingdom’s transformation into an economy that will further boost non-oil revenues and reduce its dependence on oil in the face of challenges posed by fluctuating downward prices.
Panels of the forum included an in-depth insight into regional geopolitics presented by Naeem Holding CEO Hussein Shobokshi
ICAP’s Group Head Sell Side Research Mazen Al-Sudairi, discussed the Kingdom’s stock market outlook, which was followed by an interactive panel discussion on the economic prospects for the Kingdom in light of Vision 2030.
Moderated by Institutional Investor, this panel included UCA CEO Machaal Karam, Saudi Gulf CEO Samer Al-Majali, Amlak International MD Abdullah Al-Howaish and Nosha CEO Saleh Al-Omair.
Al-Majali said Saudi Vision 2030 contains several positive components that are in direct relation with the aviation sector of the Kingdom. Simultaneously, the aviation sector and its upcoming anticipated developments will impact the Vision 2030 components positively. Both will mutually benefit from each other.
Al-Majali pointed out that movements both to and from the Kingdom — of both people and goods, is a vital part of the Saudi economy, and the aviation sector is working hard to ease this critical movement.
Based in Alkhobar, Saudi Gulf is one of the Saudi airlines completely owned by the private sector, and constantly works with the highest standards.
Al-Omair spoke about Vision 2030’s positive impact on the health sector. He discussed the role of the private sector in the operation and management of the Ministry of Health hospitals, as well as the investment and preventive care opportunities the transformation will provide.
Al-Omair also covered the main obstacles/challenges facing Saudi health care in achieving the Vision 2030 transformation, raising concerns about the role of health Insurance in this transformation.
The impact of the British exit (Brexit) from the EU and its impact on the real estate sector also figured in the discussion.
Nasser Shawaf, CEO of Rassmal Investments, pointed out risks posed by the Brexit, which includes the fact that the accompanying uncertainty may prevail in short- to medium-term, which could affect economic growth.
Al-Howaish discussed the Ministry of Housing's objectives, which include improving business performance of the real estate sector and increase its contribution to the country’s GDP, motivating their supply and raising productivity to provide residential housing with reasonable prices and quality, and making it easier for citizens to find more suitable options of housing finances.
He also talked about the main indicators (KPI’s) of the Ministry of Housing for 2020 in order to achieve the strategic objectives.
The forum concluded with a discussion held by Richard Fenech, partner at BMG Wealth, and Alper Apaydin, partner at AkarOne, discussing the future of wealth management and the recent political tensions in Turkey.
Prince Abdulaziz bin Faisal bin Abdulmajeed Al-Saud also attended the event.
Basil Al-Ghalayini, CEO of BMG Financial Group, hosted royalties of both countries — Prince William, Duke of Cambridge, and Prince Abdulaziz Al-Saud, at the open grounds of the polo cup.
