IMF Opens First Middle Eastern Office in Riyadh: Saudi Arabia's Economic Diversification and the
The International Monetary Fund (IMF) has opened its first regional office in Riyadh, Saudi Arabia, marking the IMF's first office in the Middle East.
The inauguration took place during a conference on "Industrial Policies to Promote Economic Diversification," organized in partnership with the Saudi Ministry of Finance.
Saudi Arabia's Minister of Economy and Planning, Faisal Al-Ibrahim, emphasized the significant impact of "Vision 2030" on the country's legislative and political structure.
He highlighted major projects like NEOM and the Red Sea project as examples of Saudi Arabia's commitment to economic diversification beyond oil.
The Minister of Economy and Planning in Saudi Arabia highlighted the importance of thorough analysis across sectors to promote opportunities for sustainable economic growth.
He stressed the need for a diversified investment approach in Saudi Arabia.
The minister also mentioned that a two-day conference is being held to help regional countries develop policies for sustainable and diversified economic growth, drawing on global examples.
The discussions at the conference will focus on creating industrial policies to ensure long-term prosperity in the region.