Milken Summit; Saudi’s Prince talks Iran relations and G20 Presidency

Milken Summit Institute, the Middle East and Africa Summit year 2020, was in Abu Dhabi. Hundreds of industry trailblazers, high-level decision-makers, philanthropy to health are those in economics filed were among those who attended. There was a feature of a diverse list of guests in the event from the Paris Hilton. Wellness guru, alternative medicine, Deepak Chopra, and original influencer. Also, the 54th speaker of the U.S.A House of Representatives, Paul Ryan, the Saudi’s diplomat, his royal Highness Turki Al Faisal bin Abdul-Aziz Al Saud.

Investment Focus of Gcc at the Milken Summit

According to the Global Opportunity Index report published by the Milken, it analyzed the improvements that Gulf Cooperation council countries did last year. They noted that the GCC performance lagged in some four key areas. The areas affect the potential attraction of foreign investors in the region. These areas are workforce talent, transparency of information, protection of investor’s rights, and economic openness.

Speaking to the Euro news, he said that there was a high potential from the region to improve the matters.

 “You need to not only put in place laws, which many jurisdictions have, but you also need to have the political will to enforce them,” Michael Lowden said.

The Milken report also noted that the events like the Expo2020 in Dubai and another one Saudi Arabia presidency of the G20 in 2020 offers very unique opportunities. The opportunities that attract investments at an international level.

Interview between Rebecca of Euro News and Prince Turki of Saudi Arabia.

In an interview with Miss Rebecca, Prince Turki Al Faisal Al Saud, when asked about how quickly they are pushing for reforms for better financial transparency and the openness in economics. The prince replied that” The kingdom established the Vision 2030 nearly five years ago, and it set transformation stages to get ready to go to 2030 for five years. And we’re coming to the end of that time now. From what I’ve heard from official statements, we’re pretty much on target.

Job Creation in Saudi Arabia

On job creation in Saudi Arabia by 2030, which has a population of thirty-four million, the prince said that it wasn’t all about job creation. Instead is about having that sense of wellbeing in the surrounding environment, which is yet to get established. This is either in terms of political stability or security, as well as financial capability.

The prince was asked to comment on  Saudi is trying to deflect attention from the current Yemen situation as well as the record of the domestic human rights by hosting the G20. The Saudi Arabian prince said that there was no deflection. He further said that Saudi was committed to Yemen and supporting the government that is legitimate in Yemen.

Saudi Arabia Relation with the U.S.A

On a question about the Saudi relationship with the U.S, he said the two countries have been working together since 1945. He admits they are ups and downs as well as disagreements, but the strategic interests are what have maintained them. And they are comfortable working with anyone who will be bin the U.S

On a comment about the tension that is there between Iran and the USA, he said he hoped that there would be no conflict. He further noted that Iran is provoking the conflict. He hoped that Iran would result in becoming a constructive partner instead of being destructive.

On security matters, Prince Turki said it’s a big challenge for them. He said that it does not affect Saudi interest only. He gave an example of a five or six barrels of oil were changed after the missiles and drones hit. As a result, it affected the whole world.