Riyadh, Oct. 28, 2022, SPA -- The Ministry of Investment signed two agreements with the Royal Commission for AlUla Governorate and the US company IBM for Technology in the last day of the 6th Investment Future Initiative conference. The two agreements aim at building and developing an artificial intelligence system in the city of AlUla. The ministry also signed an agreement with Brazil's Ocellott Company for Technology, aiming to cooperation in the field of developing an innovative propultion battery system for future electric vehicles. This brings to eleven the number of investment agreements reached with international conglomerates in the space, bio- technology, education sectors etc, a sign for the growing confidence bestowed to the Kingdom as a hub for a global investment destination. In the attendence of Minister of Investment Eng. Khalid bin Abdulaziz Al-Falih, government leaders and senior CEOs, the conference cast light on the National Initiative for Global Supply Chains for strategic sectors who enjoy preferential competitive advantage that would lead the Kingdom to rank with the world's 15 leading economies by 2030 and enable local and international investors to establish low-risk low-cost low-carbon supply chains benefiting from the Kingdom's natural resources, well-built logistic infrastructure and unexploited capabilities. The initiative aims at attracting more than $10b. of industrial and service investments of global supply chains in its first two years. During the three-day conference, senior officials of the ministry also took part in discussion panels. For her part, Sara Al-Thari, Supervisor for Bio Technology and Drugs Department, exchanged views with senior speakers on the latest developments of bio technology which feeds the innovation field in each of preventive medicine and precision medicine. Asaad Al-Jamooee, Executive Manager for the intiative took part in a discussion session on ways to overcome crises facing global supply chains. For his part, Fahd Al-Hashim, the Director General for the Real Estate Sector of the ministry, discussed restricted supply chains and governments and companies response to them. --SPA 12:09 LOCAL TIME 09:09 GMT 0007 www.spa.gov.sa/w1804994