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Saudi Investment Minister warns of many difficulties that will face global economy in 2023

Saudi Minister of Investment, Khaled Al-Falih, stressed at the Davos in the Desert Conference that the future of the global economy for the year 2023 will face many difficulties, due to high inflation and low purchasing power.

He pointed out that trade policies have become unpredictable due to many factors such as high energy prices, climate change, and others.

In an economic session of the Sixth Future Investment Initiative (FII) currently being held in Riyadh, Al-Falih questioned how the current governments can succeed and adapt in these difficult times.

He pointed out many challenges and accelerating historical damages that may cause some difficulties, and at the same time provide more opportunities.

Regarding the transformation in the field of trade, His Excellency said that if the matter is placed in the context of globalization, supply will continue and expose countries, companies, and individuals to the stage of guarantee.

The Minister of Investment stressed that Vision 2030 was designed for the future world in which we will live in 10 or 15 years.

For his part, Greek Minister of Development and Investment Idonis Gergeadis referred during the session to the permanent partnership between the Kingdom and the Republic of Greece, indicating that the two countries have a common vision,

The Greek minister stressed that stopping the global conflict would return things to their normal state, with full readiness for any changes that might occur.

He expressed his happiness with the announcement by the governments of the Kingdom and Greece, several months ago, to work on achieving electrical interconnection with Europe through his country.

The session also touched upon the past four years, in light of the “Corona” pandemic, and China’s ability to communicate with the outside completely, thanks to its policy of high flexibility.

The session also praised China’s ambition to achieve a 60% reduction in carbon emissions by 2030, which is part of its plan to eliminate carbon by 2060, to transform into a green economy.

Regarding the challenges, especially the climate, Hong Kong has proven that as a financial center it plays a role not only in China but also in its neighborhood.

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