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Saudi Arabia announces reforms to attract foreign investments

February 9, 2022 at 1:53 pm

A Saudi man monitors an exchange board at the Stock Exchange Market (Tadawul) bourse in Riyadh on 3 November 2019 [FAYEZ NURELDINE/AFP via Getty Images]

Saudi Arabia has launched 40 initiatives as part of its National Investment Strategy to attract more than $100 billion in foreign investments by 2030, an official announced yesterday.

The Saudi Investment Minister’s deputy, Saad Al-Shahrani, told Al-Arabiya that the kingdom had launched 40 initiatives to support legislative reforms within the country’s investment environment.

“These reforms come with the aim of attracting foreign investments of over $100 billion into the kingdom by 2030,” he explained.

The National Investment Strategy was launched by the Crown Prince Mohammed Bin Salman in October to support the achievement of the kingdom’s Vision 2030 plan. It aims to make the Saudi economy one of the 15 largest globally, reduce unemployment to less than seven per cent, and raise the private sector share of the country’s gross domestic product to 65 per cent.

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