Saudi Arabia's capital markets have evolved significantly, driven by Vision 2030, landmark IPOs, and an influx of international capital. With the Saudi Stock Exchange (Tadawul) now ranking as the 10th largest exchange globally, coupled with reforms led by the Saudi Capital Market Authority, the kingdom's capital markets are poised for expansion and international recognition. Foreign investors' increased participation—ownership grew from approximately $50 billion in 2019 to over $100 billion in June 2023—reflects growing confidence. The need for alternative financing solutions to businesses across various sectors is a key driver in the expansion of public and private debt and equity markets, supporting economic diversification and fostering entrepreneurship. With the emergence of REITs as a viable investment vehicle, Saudi Arabia's real estate sector has also attracted considerable attention from both domestic and international investors. Join our panelists to analyze Saudi's progress towards increasing capital liquidity, market transparency, and regulatory certainty. Hear actionable perspectives on navigating the kingdom’s diverse investment landscape and potential opportunities for global investors in this emerging market. 

Moderator

Michael Piwowar

Executive Vice President, MI Finance, Milken Institute

Speakers

Sarah Al Suhaimi

Chairperson of the Board, Saudi Tadawul Group

His Excellency Khalid Al-Falih

Minister of Investment, The Kingdom of Saudi Arabia

His Excellency Mohammed El-Kuwaiz

Chairman of the Board, Capital Market Authority of Saudi Arabia

James Keenan

Chief Investment Officer and Global Head of Credit, BlackRock