30/11/2017 13:20 AST
HSBC hosted more than 100 institutional investors from across Asia, senior officials from Saudi Arabia and executives from some of the Kingdom’s biggest companies in an event focused on the government’s Vision 2030 transformation agenda.
The HSBC Saudi Investment Forum in Hong Kong brought together senior members of the Saudi government, the Saudi Arabian Monetary Authority, the Capital Market Authority of Saudi Arabia, the Saudi Stock Exchange (Tadawul) and 7 Tadawul-listed companies.
The day of presentations and talks highlighted the significant investor interest in Asia as well as details on the progress so far in Saudi Arabia’s quest to grow and diversify its economy.
Khalid Abdullah Al-Hussan, CEO of The Saudi Stock Exchange (Tadawul) said: “Tadawul supported by the Saudi Capital Market Authority has made significant strides this year in enhancing efficiency, corporate governance, and creating an attractive investment climate for both local and international investors.
“ MSCI, FTSE Russell, and S&P Dow Jones have recognized the milestones undertaken in the Saudi Capital Market which reflects investor confidence in our market. We are fully committed to paving the way towards full inclusion in global Emerging Market indices and further pushing forward Saudi Arabia regionally and globally as a dynamic capital market player.”
Georges Elhedery, deputy chairman and CEO of HSBC Bank Middle East Limited, said, “The Middle East is home to the world’s most ambitious economic transformation programme and the development of Saudi Arabia’s capital markets are a key part of that story. Our long presence in Saudi Arabia over six decades means we can truly help the Kingdom tell its story to global investors.”
The forum began with a welcome address by the Group CEO of HSBC, Stuart Gulliver, and also saw a keynote Q&A session between Mark Mobius, executive chairman of Templeton Emerging Markets Group; and Frederik Michaelsen, head of Research at HSBC Saudi Arabia.
Before breaking out for one-on-one and small group meetings, there was a panel discussion on the view from Saudi corporates, which saw Georges Schorderet, CEO of Almarai Company; Darren Davis, CFO of Saudi Arabian Mining Company (Ma’aden) and David Dew, managing director of The Saudi British Bank, all take to the stage.
The participating Saudi Arabian corporates included Al Rajhi Banking and Investment Corporation, Almarai Company, Dallah Healthcare Holding Co., Mobile Telecommunications Company Saudi Arabia, Saudi Arabian Mining Company (Ma'aden), The National Commercial Bank, and The Saudi British Bank.
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