Riyadh: Saudi Arabia's econ-omic activity is forecast to accelerate over the next three years.
Investment in the sector should remain robust with the government allocating 260 billion riyals (Dh254 billion). The real GDP growth would come from the non-oil private sector which is pegged at 4.2 per cent while inflation would stabilise around 5 per cent in the next three years.
These statements put Saudi Arabia in the spotlight with investment specialists at the Outlook Saudi Arabia: Investment and Private Equity Summit 2010.
The three-day event in Riyadh this week focused on investment opportunities in the kingdom. The first day of the summit explored economic and geopolitical growth potential, financial and investment regulations as well as risk profile of the Saudi economy, while day two and three, concentrated on private equity and venture capital in terms of new opportunities and challenges, mergers and acquisitions, global investments and value creation in the Kingdom among others.
Brad Bourland, Chief Economist and Managing Director, Proprietary Investment, Jadwa Investment, KSA said, "Saudi government's monetary and fiscal policy is conducive to growth, but confidence has to rise further for full economic recovery ... inflation is subdued and credit availability from local banks will gradually improve in 2010."
