The highly anticipated conference opens its doors in light of the latest economic turmoil triggered by Greece’s financial crisis.
“Euromoney Saudi Arabia 2010 takes place at a crucial time,” conference director Richard Banks told a press conference at Riyadh’s Faisaliah Hotel on Monday.
“While the global economy in 2010 was set on course for slow recovery, recent events highlighted the fragility of this process. The conference will provide a forum for more than 1,200 delegates to discuss possible spill-over effects affecting the region.”
He added that half of the delegates are from countries other than the Kingdom, while the rest are from local banks, private sector establishments and financial houses.
"Even though the negative effects are more likely to hit Europe, it must be considered that Saudi Arabia holds very strong trading ties with the EU and while Saudi importers would benefit from a weaker euro, direct foreign investments in the region and the Kingdom itself are at stake."
Discussions on the latest developments will take place through eight panels and workshops conducted by lead sponsors NCB, Al-Rajhi Bank, Shuaa Capital, HSBC and BNP Paribas.
The speakers will discuss topics such as Saudi Arabia's financial sector and credit markets, the future of public and private financial partnerships, the development of corporate finance and asset management, as well as the Kingdom's oil, hydrocarbons and mineral resources. The conference will also consider how global economic realignment presents opportunities to define a new economic identity for the Kingdom.
The regulation of the banking sector and the way its role as a prime intermediary mechanism is gradually being supplemented by other capital markets will be under scrutiny at the conference.
To supplement this, discussion panels dedicated to the Saudi credit market and corporate finance will also take place.
"With bank finance on the wane and debt markets not yet mature or willing enough to offer an alternative, one of the key questions will be how Saudi Arabia is going to fund its massive infrastructure and development needs," said Banks.
"Public and private financial partnerships and the nature of this relationship will be one of the dominant topics in the Kingdom and consequently at the conference."
The conference’s regional and international significance is demonstrated by the participation of GCC Secretary-General Abdulrahman Al-Attiyah, the crown prince of Luxembourg Prince Guillaume and Saudi Arabian Monetary Agency Gov. Muhammad Al-Jasser, all of whom are speakers at the conference. The second day of the conference will include speeches by Minister of Transport Jabarah Al-Seraisry and Public Pensions Agency Gov. Mohammad Alkharashi.
Euromoney is the world's leading organizer of conferences for capital markets and cross-border investment. The company produces over 50 international events each year in countries from Austria to Zambia for portfolio and direct investors, financial intermediaries, corporations, governments, banks and financial institutions.
