Saudi Arabia to offer $6 trln investment opportunities in next 10 years

Crown Prince Mohammed bin Salman

Crown Prince Mohammed bin Salman said Saudi Arabia will offer mega investment opportunities worth $6 trillion within the next 10 years, of which SAR 3 trillion opportunities will be offered in new projects.  

The new projects will be offered in line with Vision 2030 to unleash the Kingdom’s untapped potentials and establish new and promising growth sectors. 

The Public Investment Fund (PIF) and the private sector will finance 85% of this huge economic program, the Crown Prince said during a strategic dialogue session held as part of the World Economic Forum activities.  

The remaining percentage will be financed through stimulating foreign capital from the GCC states and other countries worldwide, to venture into efficient investments of promising and traditional sectors.  

He added that the investments are in line with the Saudi Arabia’s intention to rise to a leadership position in renewable energy and the Fourth Industrial Revolution, tourism, transportation, entertainment and sports. 

Prince Mohammed also reviewed the achievements made by Saudi Arabia since the announcement of Vision 2030, in terms of doubling non-oil revenues, empowering women in the labor market, raising the level of competitiveness in the business environment, and promoting the PIF role. He also underlined the significant improvement made in environmental protection, and the Kingdom's initiative regarding the circular carbon economy, which was approved by the G20 summit chaired by the Saudi Arabia. 

The achievements realized by the Kingdom under Vision 2030 came within the framework of accelerated transformation and reforms over the last four years, the Crown Prince noted, adding that these reforms will double over the next decade. 

Though 2020 was full of challenges, the Kingdom was well-positioned to address these challenges as the transformation plan, launched several years ago, took into account new economic aspects, government work, social aspects, and also created qualitative investment opportunities.

Prince Mohammed underlined the role played by the Kingdom to boost development, shore up the region stability and maintain energy market supplies.