Saudi investment minister stresses importance of public-private partnership for sustainable growth

Saudi investment minister stresses importance of public-private partnership for sustainable growth
Saudi Investment Minister Khalid Al-Falih said governments must build real partnerships with the private sector.. (File/AFP)
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Updated 23 October 2020

Saudi investment minister stresses importance of public-private partnership for sustainable growth

Saudi investment minister stresses importance of public-private partnership for sustainable growth
  • Falih: Saudi Arabia is taking all measures to identify the challenges facing the business community

RIYADH: Saudi Investment Minister Khalid Al-Falih on Wednesday stressed the need for a strong public-private partnership to ensure sustainable growth.
He was addressing a session at the World Digital Summit organized by the Financial Times in cooperation with the Ministry of Investment and G20 Saudi Secretariat.
Al-Falih said governments must build real partnerships with the private sector.
Highlighting the importance of investor satisfaction, the minister said “transparency and clarity of regulations” give the business community a sense of security.
He said Saudi Arabia is taking all measures to identify the challenges facing the business community, particularly during the ongoing pandemic.
Al-Falih said the Saudi government has taken several measures to protect investors.
He said the Kingdom’s economy is one of the most resilient economies in the world, and it is evident from the fact that despite the pandemic, Saudi Arabia continued with its development projects.
Al-Falih also highlighted the important role of youth in a country’s development.
He said the Kingdom considers its people particularly the youth its true wealth.
The Saudi government is taking steps to empower the youth and create opportunities for them to contribute to national development, Al-Falih said.
Experts and business leaders from around the world are taking part in the four-day summit. They will discuss issues related to the digital economy, sustainable development, and creating job opportunities.

 

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Global Digital Summit

The Global Digital Summit is a digital conference series is providing an international audience with strategies needed for inclusive recovery, building on the commitment made by G20 ministers to work together to strengthen trade and investment as a tool for global innovation, growth and job creation.


Saudi Public Prosecution says giving false impression of capital market is ‘serious crime’

Engaging in any action or behavior aimed at creating a false or misleading impression indicating active trading transaction on a specific security, which is contrary to the truth is also illegal. (File/Shutterstock)
Updated 04 December 2020

Saudi Public Prosecution says giving false impression of capital market is ‘serious crime’

Saudi Public Prosecution says giving false impression of capital market is ‘serious crime’

Saudi Arabia’s Public Prosecution affirmed that it is prohibited by law to intentionally take any action that creates a false or misleading impression about the capital market, prices, or value of any security or to induce third parties to buy, sell, or subscribe to this security.

It stated in a tweet that this is one of the serious crimes that require arrest, according to the Public Prosecutor's decision No. (1) dated 1/1/1442.

The following actions are considered fraudulent:

Engaging in any action or behavior aimed at creating a false or misleading impression indicating active trading transaction on a specific security, which is contrary to the truth.

Performing a series of transactions on a specific security to influence on a particular stock.

Conducting a series of trades on a specific security, such as buying and/or selling a security, with the aim of price stabilization.

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