Despite the current on-going global crisis, BlackRock-Global Asset Management firm eyes Saudi Arabia as the best attractive Investment arena

Despite the current on-going health as well as global crisis, US Investment and lead global Asset Management firm BlackRock that had initially commenced its Saudi Operations from an office in Riyadh during September 2019, remains upbeat regarding the Kingdom of Saudi Arabia as it has again emerged as an attractive, most resilient investment venue.

The global largest Asset group and US Investment major BlackRock global head of the official institutions group Terrence Keeley, in a webinar that happened the previous Tuesday had stated optimistically that “the Kingdom of Saudi Arabia relates as a go through global venue for a very attractive investments amidst their other emerging markets both on the relative as well as absolute levels.”

Keeley further noted that, with a stern warning issued by the IMF the previous month, the current health crisis, it will be likely to cause the worst of the global recession as observed in nearly a century. Thus, within this context, the investment major is primarily focussed on for a more resilient, high-quality debt, rather than riskier stocks.

He further noted and praised the kingdom stating that “The Global Investors are valuing in obtaining solid sources of returns and the Kingdom of Saudi Arabia has done exceptionally well to have jumped 30 spots in the ‘World Bank’s Ease of Doing Business 2020 index’ with the support of low government debt and strong commitment to business, thereby retaining a huge attractive investment opportunities including investment infrastructure.”

Keeley further pointed out that the “the kingdom of Saudi Arabia is the best venue… wherein they have possibly the best advantage of opting up for a resilient investment opportunities.”

In an overall the Asset Management group holds as well manage a huge net worth of investment portfolio, which is inclusive of a net worth of $6.5 trillion Asset Management funds generated during March, this year.

With a view to expand its global and native presence in the Kingdom, with the initial frontline foundation base operated from Riyadh for supporting the opportunities in the kingdom and across the wider Middle East, and with this decision the investment major will be foreseeing keenly to be at an advantageous position in near future.

In specific, Keeley also highlighted the infrastructure investment as a broader and powerful medium within the Kingdom, noting the latest 7 billion riyal investment within the King Abdulaziz Port in Dammam, with the involvement of Singapore port operator PSA, as an illustration.

He further added that “As per his assumption BlackRock as well as all of our core investors can have a close keen watchful eye for those styles of opportunities at frequent intervals within the territory.”

As per the statement given by BlackRock CEO Larry Fink, “New York-backed Company was conjointly a “substantial investor” in Saudi Aramco’s inaugural dollar bond earlier during the previous year 2019.

Fink had previously stated last year that “The territory isn’t a perfect option and that none of the global territories are ideal. However, the undeniable fact that there are snags within the press doesn’t tell him that he ought to run from a territory. In fact, on the contrary it tells him that they must always run to an unearthed zone.”

LEAVE A REPLY

Please enter your comment!
Please enter your name here