Saudi Arabia eyes investments in untapped industries: Al-Falih

Khalid A. Al-Falih, Minister of Investment

Saudi Arabia seeks investments in untapped business sectors, including green hydrogen, renewable energy, green economy as well as information technology, capitalizing on the National Investment Strategy (NIS), said Minister of Investment, Khalid Al-Falih.  

The Kingdom doesn’t target repeated investments; it will launch unprecedented qualitative initiatives, which will also extend to building new special economic zones in business sectors, Al-Falih added during the first session titled “Financial Sustainability and National Economic Development” at the Saudi Budget Forum 2022 held today, Dec. 13.

Saudi Arabia’s capital expenditure (capex) was disbursed in parallel channels, such as the Public Investment Fund (PIF), and in line with the National Investment Strategy, while factoring in the coordination between both public and private sectors.

The Kingdom established an investment ministry and created affiliated offices in all its investment destinations, which underpinned the significance of investment. It also finalized 300 legislations and reform measures to attract investors to the Saudi market.