Saudi Arabia eyes foreign investments of high economic impact: Al-Falih

Khalid Al-Falih, Minister of Investment

Saudi Arabia aims to attract foreign investments of high economic impact, which open sectors that might be unavailable in the Kingdom, Minister of Investment Khalid Al-Falih said today, Dec. 11, during the Budget Forum 2023.

National investments will likely reach SAR 1.7 trillion out of the targeted SAR 2 trillion by 2030. Meanwhile, foreign investments will make up less than 20% of total gross fixed capital formation.

The National Investment Strategy (NIS) drives investment in the Kingdom, Al-Falih added, noting that NIS is the link between the regional strategies.

Investment and the private sector contribution serve as a key chapter in every strategy launched under Vision 2030, Al-Falih said, adding that pegging Saudi riyal at a fixed rate to the US dollar stabilizes the Saudi and foreign private sector.