Riyadh: Under the patronage and in the presence of Minister of Finance Mohammed Aljadaan, the Saudi International Valuation Conference was launched on Sunday at the headquarters of the Federation of Saudi Chambers in Riyadh, with the participation of around 1,000 officials, companies, experts, and specialists in the field of valuation.
According to Saudi Press Agency, the conference is organized by the Federation of Saudi Chambers, represented by the National Valuation Committee, in partnership with the Saudi Authority for Accredited Valuers (TAQEEM). It aims to review the latest valuation trends, highlight leading local and international experiences, and present the best global models, while discussing ways to enhance the business environment in the sector and the mechanisms for institutional support and professional empowerment.
In his speech, President of the Federation of Saudi Chambers Hassan Alhwaizy stated that the Kingdom is witnessing a comprehensive developmental renaissance across various sectors under the wise leadership. He described the valuation sector as a key pillar that strengthens market confidence and noted that it receives significant attention from government authorities. He emphasized that the Saudi International Valuation Conference reflects the importance of valuation in investment success, describing it as a mirror of market integrity and a compass for development. Moreover, he noted that the quality of valuation is no longer optional but an economic necessity for a more sustainable future.
CEO of the International Valuation Standards Council (IVSC) Nicholas Talbot said, 'The IVSC works on developing consistent, high-quality International Valuation Standards (IVS) covering various asset classes worldwide, which enhances the reliability of valuations and improves the efficiency of financial markets.' He also stated that TAQEEM is a strategic global partner, contributing to the development of the valuation profession in the Kingdom and integrating international expertise into local practices.
Moreover, Talbot noted that the partnership with TAQEEM has led to the opening of IVSC's regional office for the Middle East and Africa in Riyadh, a step reflecting the Kingdom's advanced position in the sector. He also said that the IVSC Investor Forum brings together top global investors with assets exceeding $23 trillion. Additionally, Talbot highlighted the main challenges and opportunities in the valuation field, including legislation, data availability, local financing and tax frameworks, intangible assets, and the use of technology.