Amin H. Nasser, President and CEO of Aramco, delivered the keynote address today at the second Saudi Capital Market Forum, which was organised by His Excellency Muhammad Al-Quwaiz, Chairman of the Board of the Capital Market Authority.
In his remarks, Mr. Nasser emphasized that the Kingdom's vision places a strong priority on capital market development. The G20's fastest-growing economy is helping the Saudi capital market flourish, Mr. Nasser said, adding that it is now one of the world's fastest-growing capital markets. Und thanks in part to Aramco's IPO, the Saudi Stock Exchange is currently among the best in the world by market cap.
Mr. Nasser also stressed the importance of financial markets in advancing net-zero goals, advancing the energy transition, and driving the global economy. The amount of investment in oil and gas is currently less than half of what it was approximately 10 years ago, he cautioned. Mr. Nasser claims, that this will have a negative impact on international energy security. „From my perspective, for a less risky global energy transition, everyone- including capital markets around the world- must take a more realistic and balanced view of how the global energy transition will unfold," he stated.
Mr. Nasser also emphasized the investment potential the energy revolution offers the financial markets, citing hydrogen and carbon capture and storage as areas that still need a lot more capital because they will improve energy sustainability.
The Saudi Capital Market Forum, which is attended by investors, exporters, and financial market institutions, is sponsored by Aramco. The Saudi Financial Market Awards Ceremony, which will celebrate the top brokers, asset managers, and public offerings, will mark the forum's conclusion.
