The second day of the 28th Global Investment Conference (WIC) in Riyadh, organized by Invest Saudi in partnership with the World Association of Investment Promotion Agencies (WAIPA), saw the signing of nine major investment agreements worth a combined total of more than SR35 billion. The deals fall under the National Initiative for Global Supply Chains and reinforce the Kingdom's position as a key hub for global investment.

Boosting Sustainability and Local Manufacturing

The agreements focus on strengthening sustainability and securing supplies of essential materials, alongside supporting local manufacturing across several sectors. Among the standout projects announced:

  • Copper smelting and refining facilities with Vedanta.
  • Advanced titanium projects in partnership with AMIC and Tasnee.
  • Rare earth element processing facilities in cooperation with Hastings.
  • Strategic agreements with major companies including Red Sea Aluminum, GlassPoint and the Ziegen Group.

These projects underscore the Kingdom's growing role in sectors spanning renewable energy, base metals and advanced manufacturing.

Panels Explore Future Opportunities

The conference featured a wide range of sessions and discussions examining investment opportunities and frameworks for public-private cooperation, including:

  • A session on the National Initiative for Global Supply Chains, which highlighted the appeal of the Kingdom's infrastructure and its low renewable energy costs.
  • A session titled "Future Horizons: Investing in Tomorrow's Industries," covering policies and strategies for emerging industries.
  • Discussions on artificial intelligence, blockchain, and the role of technology in driving innovation.

The day's sessions also reviewed recommendations from the recent COP29 climate conference held in Azerbaijan, with a focus on sustainable finance and embedding environmental goals into economic policy.

Entrepreneurship and Networking Take Center Stage

The second day devoted significant attention to entrepreneurship, with sessions facilitating connections between global investors and startups, reflecting the Kingdom's commitment to fostering innovation and engaging a new generation of entrepreneurs.

Conference to Close With More Investment Opportunities

The conference concludes tomorrow with sessions on global investment opportunities, special economic zones and the future of sustainable tourism, before an audience of more than 2,000 participants from 130 countries, including 30 ministers, cementing the conference's status as a leading global platform for investment and development.