Saudi Arabia set to offer SAR 80 bln opportunities to private investors: Al-Falih

Saudi Arabia is offering more than 65 investment opportunities worth SAR 80 billion to private sector companies, energy minister Khalid Al-Falih said on Monday.

“A total of 20 “deal rooms” were set up, so that investors can discuss various opportunities,” Al-Falih said on the sidelines of the National Industrial Development and Logistics Program (NIDLP) launch ceremony.

The recently-announced program aims to raise the contribution of its sectors to SAR 1.2 trillion of total gross domestic product (GDP). It also targets to attract SAR 1.6 trillion worth of investments and create 1.6 million new jobs.

“The program strategy aims to transform the Kingdom to a leading industrial hub and a global logistics service provider. It focuses on four key sectors, namely industry, mining, energy and logistic services,” Al-Falih said.

The program is one of the most important pillars for achieving National Transformation Plan 2020 and Saudi Vision 2030, he continued. 

“NIDLP focuses on industry and local content development, including renewable energy, military industries, exports, mining, power, the balance of payments, and robot workforce,” Al-Falih concluded.