Saudi Arabia This is how the investment strategy attracts 4 trillion riyals abroad

Omar Bahliwa, head of the Basic Business Bureau for Economic Investments, he said in an interview with Al Arabiya that the National Investment Strategy, launched by the Saudi Crown Prince, fits into the context of completing the implementation of the Vision 2030 goals, which have become clearer, with many programs and initiatives such as privatization and a program partners, NEOM and Qiddiya projects, among others.

Bahliwa looked at the most important features of the Saudi investment strategy, which he will contribute to Support the growth of the national economy and diversify its sources, in in line with the objectives of increasing the contribution of the sector The private sector in the gross domestic product at 65% and aims at private investment of 4 trillion riyals from the investments of various national and international companies.

He indicated the contents of the objectives of the strategy, to strengthen support for the main sectors and projects that will benefit from this strategy, in in particular large logistics projects, and those maritime and land logistics lines that intersect with global trade routes, in NEOM and in various ports of the Kingdom.

He said the Saudi Public Debt Center has worked to attract investment through debt issuance and the Kingdom has become a central country in the Middle East and North Africa.

The strategy integrates with previously announced vision programs, in where investment is an essential part, such as the Public Investment Fund program, the National Industrial and Logistics Development Program, the Privatization Program, the Financial Sector Development Program and the Quality of Life Program, as well as other national strategies.

The national investment strategy includes defining comprehensive governance to oversee its implementation, through the Supreme National Investment Committee, which is chaired by the Crown Prince, defining and approving quality investment incentives, and identifying and the development of investment opportunities.

The strategy also includes a number of initiatives, including; Establishment of special economic zones, with competitive rules and attractive incentives for investment in priority sectors; a program to transfer strategic supply chains to the Kingdom and acquire a market share in the components of the supply chain; financing initiatives, including the development of new financing solutions for the private sector, to promote capital formation; It also includes the development of the “Invest in Saudi “as a national platform for the presentation and marketing of investment opportunities available in the Kingdom.

Read More About: Business News

Follow AsumeTech on

More From Category

More Stories Today

Leave a Reply