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Saudi targets US$100b yearly in foreign investment | Malay Mail

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RIYADH, Oct 12 — Saudi Arabia seeks to attract foreign investment of more than US$100 billion annually under a National Investment Strategy announced Monday as part of efforts to diversify the oil-dependent economy. The strategy is expected to raise annual foreign direct investment flows to 388...

RIYADH, Oct 12 — Saudi Arabia seeks to attract foreign investment of more than US$100 billion annually under a National Investment Strategy announced Monday as part of efforts to diversify the oil-dependent economy.

SPA said it will be “a key enabler” of his Vision 2030 plan, announced in 2016 to diversify the economy of the world’s biggest oil exporter. He added that “the NIS will draw up comprehensive investment plans for sectors, including manufacturing, renewable energy, transport and logistics, tourism, digital infrastructure, and health care,” SPA said.

The Arab world’s largest economy is trying to shed its reputation as an ultraconservative nation with complicated administrative procedures and obsolete regulations.

 

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