At the Saudi-US Investment Forum in Riyadh, prominent US investors, including BlackRock's Larry Fink and Blackstone's Steve Schwarzman, lauded Saudi Arabia's local economy amidst global market volatility. The panel emphasized their frequent visits to the Kingdom, showcasing the country's allure for foreign investment. Fink remarked that Saudi Arabia is shifting to become a destination for capital, as illustrated by its ambitious diversification goals by 2030. The forum, coinciding with President Trump's visit, highlights ongoing US interest in investing in the Middle East.
"The emphasis on 2030 was really a statement to the world that we're going to do it ourselves," Fink said about the country's sovereign wealth fund's plan to diversify and grow different parts of the economy.
Fink, who runs the world's largest asset manager and is increasingly focused on private market investments in areas like infrastructure, said Saudi Arabia has become a capital "destination" instead of just a capital provider for foreign investors.
"It's always a wonderful time to be back in the Kingdom," fellow panelist Jane Fraser, the CEO of Citi, said.
The event was one of many at the Saudi-US Investment Forum in Riyadh on Tuesday; the forum is being held in conjunction with President Donald Trump's state visit to the Kingdom.
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