Khalid Al-Falih, Saudi Minister of Investment
Saudi Arabia’s Minister of Investment Khalid Al-Falih said that the ministry will establish two agencies to develop investment opportunities for investors and will publish them on the “Invest Saudi” portal.
During a meeting organized by Asharqia Chamber, the minister explained that these opportunities will not only be sectorial strategies but will have specific profit targets since legislation applied to them is being determined.
He pointed out that the ministry seeks through such opportunities to reduce risks and share them appropriately between the government and the private sector, indicating that the value chains of each sector will be linked to ensure the integration of investment opportunities.
The ministry is working in integration with the Ministry of Commerce, the National Competitiveness Center and the Saudi Business Center to create legislation that enhances the Kingdom’s competitiveness by offering investment incentives.
Al-Falih disclosed that it was recently approved through the investment strategy that the ministry will lead a committee to guide financial and non-financial incentives and align them with the ministry’s strategic goal of achieving competitiveness in all sectors.
Furthermore, the ministry is working to facilitate funding in cooperation with the financial industry on various projects, whether through the National Development Fund and its subsidiary funds, to provide concessional financing and enable competitiveness in projects.
The ministry also works with private banks and the Capital Market Authority to create funds that support investors to find investment opportunities through specialized commercial funds.
The Kingdom is currently preparing for the post-pandemic period, Al-Falih said, describing it as a transitional phase that offers excellent opportunities for public-private partnerships.
He added that the first five years of the Vision 2030 was a phase of reform, adding that the ministry will play a major role in the next phase of the vision’s implementation, where it will be able to build a diversified and solid economy, as well as seize opportunities in new sectors such as information technology, artificial intelligence, biotechnology and renewable energy.
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