Saudi Arabia emerging as favorite destination for foreign investors, says executive

The European Director of Bloomberg, Constantin Cotzias, spoke to Arab News on the sidelines of the Capital Market Forum in Riyadh. AN photo by Huda Bashatah
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Updated 21 February 2024
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Saudi Arabia emerging as favorite destination for foreign investors, says executive

RIYADH: Saudi Arabia’s capital market sector is progressing in the right direction, enabling the Kingdom to achieve its goals outlined in Vision 2030, said an executive. 

In an interview with Arab News on the sidelines of the Capital Market Forum in Riyadh, the European Director of Bloomberg, Constantin Cotzias, said that the Kingdom’s plans to concentrate on the debt market are a welcome move. 

“I think if you look at the overarching 2030 plan and you look at the progress against that and then you look at how the capital market has acted as that engine. Let’s take the equity market. All the data points up really strong,” said Cotzias. 

He added: “I think we’ve heard from various ministers that they’re now turning their attention to the debt market, which I think is the right strategy. So, market by market, asset class by asset class, you can see an improvement. And international investors are responding to that.” 

In the debt market, fixed-income securities of various types and features are issued and traded.

Cotzias pointed out that Saudi Arabia, with various reforms in its regulatory framework, is emerging as a favorite destination for international investors. 

“International investors want three things. They want liquidity, a framework of governance and regulation that works, and a balance of good supervision and innovation to be properly balanced. And then they want that framework to encourage them with investment and the growth in that investment. I think the Kingdom is on the right path. If you speak to different types of investors, you’ll hear that,” added Cotzias. 

During the talk, the Bloomberg head also lauded Saudi Arabia’s government for creating that “confidence” among investors, which is necessary for a market to thrive, evolve and grow. 

He added that the capital market in Saudi Arabia is acting as a cornerstone to achieve the goals outlined in Vision 2030. 

“I think the final hurdle, like all international markets, will be that confidence. But see the leadership from the government, from the finance minister, from the central bank. I think that will be the thing that gets them there,” said Cotzias.

He added: “There is a plan for issuers and investors around the fixed-income market. About new products and the green agenda, you can see investors are having a very busy time here. I think they’re picking the right strategy.” 

During the talk, he also highlighted the vital role of technology in growing the capital market in Saudi Arabia. 

According to Cotzias, technology will be an “enabler” in the Saudi market, as it will help connect investors to the market. 

“I think in a market like Saudi Arabia, which is broadening and deepening its capital market, technology is going to be an enabler, whether it’s on the buy side and the asset management side or the sell side connecting real money investors to the market. From what I’ve heard, I think it’s going to be an enabler,” he noted. 

Saudi Capital Market Forum began on Feb. 19, with financial experts gathering in Riyadh to discuss the future of finance, evolving strategies, and innovative ideas to boost the sector’s growth. 

Cotzias also discussed the vitality of such conferences and added that events like these will help portray the growth of Saudi Arabia’s capital market. 

“I think it’s been a fantastic forum. The main goal is to tell the story of the Saudi capital markets, which have been on a journey. And I think the ability to come here, see that progress against the plan and how the capital market is driving the broader 2030 vision has been really interesting,” he added. 


Artificial intelligence is transitioning into a ‘digital employee’

Updated 27 February 2026
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Artificial intelligence is transitioning into a ‘digital employee’

  • AI can be an effective tool, business leaders tell Arab News
  • Not about jobs, but ‘convergence of human capital and AI’

RIYADH:  Artificial intelligence is fundamentally reshaping the world of work, transitioning from a supporting tool to an active partner that is radically changing the nature of professions and productivity standards.

Amidst the current global transformations, an active regional digital environment is emerging.

This is being led by Saudi Arabia through Vision 2030 and massive investments in smart infrastructure, providing a living model for studying the implications of this partnership between humans and machines on the future of work in the region.

Arab News spoke to various business leaders about the emerging shape of the sector.

Salem Bagami, co-founder of Metatalent, said the ideal relationship between humans and machines at work should be complementary and collaborative.

Humans would bring creativity, emotional intelligence, and complex decision-making, while machines excel at processing big data and performing repetitive, precise tasks.

He believes that this type of balanced partnership would lead to unprecedented productivity and innovation.

While machines excel at processing big data and performing repetitive, precise tasks, humans would bring creativity, emotional intelligence, and complex decision-making. (Supplied)

Mohammad Al-Jallad, chief technologist and director at HPE, said AI has gone beyond being merely an executive tool to becoming a “digital employee” entrusted with automating routine tasks and providing insights based on data analysis.

He believes that the real opportunity lies not in the debate over job replacement, but in “the convergence of human capital and artificial intelligence.”

AI should augment human teams by taking on menial and routine tasks, enabling employees to focus on critical thinking, creativity, and ethical reasoning, significantly improving operational results.

Bagami also emphasized the complementary nature of this partnership. “The ideal relationship between humans and machines at work is one of collaboration, where each complements the others.”

He explained that humans bring creativity, emotional intelligence, and nuanced decision-making, while machines excel at processing big data and performing repetitive tasks efficiently, leading to increased productivity and innovation.

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Salem Alanazi, chairman of Jathwa Technology Co., notes a significant trend among Saudi Arabia companies toward using AI applications to provide faster services to customers at lower costs.

The emergence of the “virtual employee” available around the clock has eliminated the need for some traditional jobs in specific sectors.

Alanazi warns that some companies’ reluctance to adopt AI may expose them to real risks. “All those who hesitated to benefit from AI applications have a lack of understanding of these technologies.”

He said those who adopt these technologies will be able to offer lower-cost, higher-quality services, which will affect the market position of companies that lag behind.

Ali Aljumhour, CEO of VALUE Consultancy, said that the transition of AI into a partner has reshaped the list of most in-demand skills in the job market.

Skills such as “prompt engineering,” “human-machine integration,” and “digital ethics” are becoming increasingly important.

He added that AI has become an instantly available “technical knowledge base,” shifting the criteria for professional distinction toward those capable of smart interaction with these technologies.

In terms of ethics, transparency, and trust, Alanazi points to the complexities of global AI governance, where legislation overlaps and evolves rapidly to keep pace with potential risks, particularly in the areas of cybersecurity and privacy.

Ali Aljumhour, CEO of VALUE Consultancy. (Supplied)

Al-Jallad emphasizes this crucial dimension, noting that providing responsible and reliable AI solutions that meet the highest standards of transparency is a key priority, especially in regulated sectors.

Bagami believes there should be basic standards for the ethical use of Al, emphasizing the need for transparency, accountability, and fairness, along with using diverse data sets to prevent bias and protect privacy.

He believes that building trust between humans and machines requires clear explanations of how systems work, giving users the opportunity to provide feedback and conducting periodic performance reviews.

On performance evaluation, Aljumhour said: “I expect radical changes in standards, shifting from measuring individual effort to evaluating the quality of the partnership between humans and machines.”

There should be a focus on the quality of inputs provided to intelligent systems, the accuracy of review and modification, and complex decision-making based on outputs.

He warns, however, of new risks that may arise, such as over-reliance on AI or difficulty in determining responsibility for mistakes.

In the employment sector, Aljumhour expects fundamental changes in standards.

There will be questions and tests focusing on measuring skills in dealing with AI, such as asking candidates about their experiences of collaborating with these systems, or testing their ability to formulate effective requests for complex tasks.

Aljumhour identifies significant human challenges in this transition, with “fear, loss of power, and exclusivity of knowledge” being the biggest concerns for experienced employees.