Investments in Saudi Arabia’s economy will reach six trillion dollars: Crown Prince

Investments in Saudi Arabia’s economy will reach six trillion dollars: Crown Prince
January 14, 2021, 11:20 am

Saudi Arabia's Crown Prince participates in a World Economic Forum dialogue session. (SPA)

Saudi Arabia's Crown Prince Mohammed bin Salman says major investment opportunities in Saudi Arabia will amount to six trillion dollars over the next ten years, including 3 trillion dollars in investments in new projects, within the framework of the opportunities provided by Vision 2030, according to the Saudi Press Agency (SPA).

Saudi Arabia's Crown Prince participated in a strategic dialogue session within the activities of the World Economic Forum (WEF), in the presence of more than 160 influential international leaders and business leaders, representing 28 sectors and 36 countries.The Crown Prince indicated that 85 percent of this huge economic program will be funded by the Public Investment Fund and the Saudi private sector, while the remainder will be through stimulating foreign capital from the Gulf countries and all countries of the world.

The Crown Prince 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.

During the strategic dialogue session held within the framework of the activities of the World Economic Forum, Crown Prince Mohammed bin Salman 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, 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 Crown Prince indicated that the Kingdom's previous achievements in accordance with Vision 2030 came within the framework of rapid transformation and reforms in the past four years, and that these reforms will double in the next ten years.

The Crown Prince affirmed that the year 2020 was full of challenges and that Saudi Arabia was ready for that as the transformation journey that was launched a few years ago.

The Crown Prince added that the transformation journey took all the country's axes to new dimensions, in the economic aspects, government work and social aspects, and created quality investment opportunities.

Prince Mohammed bin Salman stressed on the role played by the Saudi Arabia in the framework of promoting development, supporting the stability of the region and preserving the energy supply market, stressing the continuation of that role in the interest of the region through establishing security and peace, and enhancing economic cooperation.

The World Economic Forum was established in 1971 in the Swiss city of Geneva as an international non-governmental organization and aims to improve the state of the world by strengthening cooperation between the public and private sectors.

The forum also seeks to involve the most prominent leaders of politics and the private sector with the aim of forming international, regional and industrial agendas, and the forum is keen to involve a number of Competent holders, including leaders, politicians, decision-makers, leaders of the private sector, educational institutions and think tanks.

source: Rawad Taha

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