Al-Falih in the Shura Council: Reviewing the investment strategy and the future of the economy
In a move that reflects the integration between the legislative and executive bodies in the Kingdom of Saudi Arabia, the Shura Council is preparing to host His Excellency the Minister of Investment, Engineer Khalid bin Abdulaziz Al-Falih, during its fifteenth regular session of the second year of the ninth term, scheduled to be held next Monday, corresponding to 16 Rajab 1447 AH.
Review of achievements and strategic plans
The Minister is scheduled to present a comprehensive overview to the Council, highlighting the Ministry of Investment's achievements in implementing strategic plans and programs since its transformation from a public authority to a ministry. The presentation will detail the objectives of the National Investment Strategy, launched by His Royal Highness the Crown Prince, which is a key enabler for achieving the goals of Vision 2030. The Council will discuss with the Minister current performance indicators, the volume of foreign and domestic investment flows, and future plans aimed at strengthening the Kingdom's position as a global investment destination.
The oversight role and the importance of the session
This session is of particular importance given the pivotal role the Ministry of Investment plays in diversifying national income sources and reducing dependence on oil. Al-Falih's attendance is in accordance with the Council's oversight role, as stipulated in Article 22 of the Shura Council Law, which allows for the summoning of government officials to discuss matters within their purview. Council members will raise inquiries and offer comments aimed at addressing the challenges and obstacles that investors may face, and exploring ways to develop the legislative and regulatory environment to attract more capital.
Developing economic and legislative context
This discussion comes at a time of unprecedented economic activity in the Kingdom. Over the past few years, the Ministry has worked to issue and update numerous regulations, such as the new Investment Law and the Civil Transactions Law, to enhance transparency and protect investors' rights. This session provides an opportunity to assess the impact of these reforms on the ground and their contribution to creating job opportunities for citizens and transferring knowledge and technology.
Citizen participation in decision-making
Believing in the importance of community participation, the Shura Council welcomes citizens' proposals and inquiries to be presented to His Excellency the Minister of Investment. This mechanism serves as a vital bridge between citizens and decision-makers, contributing to improved service quality. Citizens can submit their contributions through the Council's official website, shura.gov.sa, or via the designated email address.
