Saudi Finance Minister Mohammed Al-Jadaan has stated that the impact of the current situation in recent weeks is more severe than the COVID-19 pandemic, posing serious challenges to the global economy.
According to international media, speaking at an investment summit in Miami, he said that the situation caused by the war has negatively affected the global economy and disrupted multiple sectors.
He noted that global supply chains have faced major disruptions, and the ongoing developments are likely to have long-term and serious economic consequences.
Al-Jadaan added that Saudi Arabia has invested in pipeline infrastructure over the past 50 years, strengthening its energy sector.
He further stated that global markets for oil, gas, fertilizers, and other key sectors are being significantly impacted by the conflict, contributing to economic instability.
The Saudi finance minister said investors prioritize stability, certainty, growth prospects, and risk-adjusted returns, while Saudi Arabia continues to offer attractive investment opportunities.
He also highlighted that Gulf countries have become more resilient through cooperation, creating new investment opportunities in real estate, technology, defense, and other sectors.
