His Excellency Yasir Al-Rumayyan is the governor of Saudi Arabia’s Public Investment Fund and also serves as the chairman of Saudi Aramco. The pair discussed PIF’s history, detailing the fund’s shift toward diversifying the Saudi economy away from oil. He also elaborated on Saudi Arabia’s broader transformation under Vision 2030, including massive investments in tourism and infrastructure projects such as NEOM. This interview was recorded on September 8 at the Economic Club of Washington DC.
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9 Comments
LIV = 54 because the tournaments are three rounds rather than four as in the PGA. That was the original reason for the name. They've changed it because they have shifted to a standard 72-hole format to conform to international standards. 54 now being the "perfect" game of golf seems arbitrary given different courses and conditions
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A lot of nonsense in this . Liv golf and the Saudi pro league being top 4.
Good
8:00 Accounting/Banking background
14:00 Diversifying out of oil
21:00 LIV
29:00 Tourism
32:00 Vision 2030
41:30 Misperceptions about Saudi
47:30 Intermittent fasting
I forgive, Nur Athirah Raji. 🙂 Maybe I misread the signal(s).
Hi David 41:49 I think the biggest misunderstanding Americans have about Saudi Arabia is that they think we want democracy, secularism, liberalism, capitalism, and Western modernity, and that we like to accept the concept of gender equality, as well as being convinced of the criminal laws in the United States of America and human rights from a Western perspective.
What the American needs to understand is that Saudi Arabia, as well as the Islamic world, live in an algorithm completely different from Western standards in everything I mentioned. I think it is important for the American to be convinced that he is not the source of divine legislation to teach Muslims what they should do because we do not see them as such.
If the political and legislative leadership in America were to overlook this, as well as those who follow them in the American media and their affiliated human rights organizations, I believe America could benefit from genuine partnerships with the Islamic world instead of deluding themselves into thinking that they are a source of divine legislation for Muslims and that they are a better standard for them than the Qur’an and Sunnah, which Muslims believe to be divine legislation.
America’s relationship with the Islamic world is most threatened when the American leadership challenges Islamic law, which controls everything in the life of a Muslim, from Islamic morals and family law to criminal and Sharia laws, women’s laws, etc.
The second danger threatening America's relationship with the Islamic world is its unlimited support for Israel, because the latter does not believe in peace. Therefore, we may see multiple wars, not just one, instigated by Israel, and the people of the Islamic world are pressuring their governments to intervene militarily in the Palestinian issue.
As for the future of Saudi Arabia and America, I believe its essence lies in Saudi Vision 2030, which is a valuable and significant opportunity for America to ensure the continuation of the strategic relationship between the two countries. Alternatively, we might see a larger Russian or Chinese partnership within Saudi Vision 2030, leading America to find itself exiting the Middle East through the front door, because Saudi Arabia is the linchpin of the Islamic world and the Middle East.
This is my opinion, and I hope that the relationship and partnership between America and Saudi Arabia will be very strong. This will only be achieved if America is the primary partner in all Saudi Vision 2030 projects, so that neither the Chinese dragon nor the Russian bear can seize opportunities to deepen their investment and trade partnerships, and so that Saudi Arabia's interests with China and Russia do not become paramount in the future. This is something I do not want.
I will explain the points of contention in political, legislative, cultural, and legal systems, and how we differ and do not consider the West a standard for right and wrong.
Islamic ethics clash with secularism and liberalism, which disregard morality. For example, Islam forbids adultery, usury, gambling, drugs, alcohol, and the trade in pornographic films, etc.
Shura clashes with democracy in major ways. Shura does not believe in elections of the masses who can be led astray, but rather in choosing the ruler based on the most competent and important political figures who nominate the most qualified for political leadership, whether he is a king or an emir. Shura is governed by Islamic law.
Democracy is governed by political, legislative, and judicial leaders created by humans, and it adheres to the agendas of political parties. In contrast, Shura (consultation) is based on the laws and policies of the Creator, working for the benefit of society and accepting what God desires, not what party agendas dictate.
Gender equality exists in criminal laws, but in family law, women have greater rights and care, while men have greater responsibilities and duties. We do not accept equality in this regard because women have physical, psychological, and organic characteristics that differ from men, and each has a major role in the family.
Similarly, we reject capitalism because it is a cause of poverty and debt. Instead of the government establishing trust funds to support its budget, it imposes various forms of taxes, exorbitant interest rates, and tariffs, and permits types of investments and trade that undermine the stability, success, and wealth growth of families.
Therefore, in summary, America's relationship with Saudi Arabia could be much stronger in the future, but it is important for America to overcome its predicament with Israel first, and the notion that Americans will teach Saudis and Muslims how to manage their own affairs, how to learn human rights from Americans, or how to establish a democratic, secular, liberal state, etc.
We see all of that as spoiled merchandise because it contradicts our religion, culture, and moral values.
There are those who believe that it is important for Saudi Arabia to partner with China first, for a simple reason: some people are convinced that Israel controls America, and that American politicians put Israel first and against America’s interests first.
This isn't my opinion, but what I hear on social media.
it is an old interview reuploaded