Arada Vice Chairman discusses resurgent Saudi economy with CNBC

19 February 2020

Arada Vice Chairman HRH Prince Khaled bin Alwaleed bin Talal has hailed the strength of the Saudi economy during a wide-ranging interview with global TV network CNBC.

Prince Khaled touched on a number of encouraging signs in the Arab world’s largest economy, including growing foreign direct investment and higher tourism numbers during the interview with CNBC anchor Hadley Gamble.


HE Mariam Almheiri, UAE Minister of State for Food Security speaking on Milken Institute’s Feeding Change panel

The comments come ahead of Arada’s planned entry into the Kingdom of Saudi Arabia, which will take place during 2020.

During the interview, Prince Khaled also discussed the investment strategy behind stake purchases in a number of successful companies within the future foods industry, including Memphis Meats and other food tech innovators.

The CNBC interview took place at the Milken Institute’s 2020 Middle East and Africa Summit, which was held on 11 February in Abu Dhabi.

During the event, Prince Khaled took part in a panel discussion entitled ‘Feeding Change: Building a Healthier, More Sustainable Food System’, alongside HE Mariam Almheiri, the UAE’s Minister of State of Food Security.

Other speakers on the panel included Michael Milken, Chairman, Milken Institute; Mohammad Abu-Ghazaleh, Chairman and CEO, Fresh Del Monte, and Jeremy Coller, Chief Investment Officer, Coller Capital.

More than 1,000 executives, thought leaders, investors, government leaders and philanthropists attended the summit in Abu Dhabi, with the other topics discussed including trade, capital markets, financial inclusion, job creation and gender parity.

Among the attendees at the summit were Paul Ryan, former Speaker of the US House of Representatives, Dina Powell of Goldman Sachs and Raymond Dalio of Bridgewater Associates.

Related: Arada reports 33% growth in sales during full-year 2019