The Saudi Crown Prince Mohammed bin Salman launched a new investment strategy that aims to raise the net FDI flows to 388 billion riyals ($103.45 billion) annually, and also aims to increase domestic investments to 1.7 trillion riyals annually by 2030. In addition to empowering investors, offering investment opportunities, providing financing solutions and enhancing competitiveness.
Saudi Arabia's drive for domestic investment comes as foreign direct investment into the kingdom has slowed over the past few years. Noting that the total net foreign direct investment in Saudi Arabia reached $5.5 billion last year at the height of the Corona pandemic.
The Crown Prince noted that the Kingdom plans to invest 12 trillion riyals by 2030 as part of a 27 billion riyals spending campaign to diversify the Saudi economy. The spending campaign includes financing of 5 trillion riyals from the private sector, 3 trillion riyals from the Saudi Sovereign Wealth Fund (Public Investment Fund) and 4 trillion riyals under the umbrella of a new Saudi investment strategy, of which about two trillion riyals will be foreign investments.
Source (Al-Arabiya.net Website, Edited)
