Crown Prince Mohammed bin Salman has revealed the SR27tn ($6.7tn) National Investment Strategy (NIS) to help achieve the goals of Saudi Arabia's Vision 2030 programme.
NIS is expected to include the injection of SR12tn into the local economy until 2030. This entails SR5tn through the Shareek initiative; SR3tn from sovereign wealth vehicle Public Investment Fund; and SR4tn through investments by local and international companies facilitated by NIS.
Another SR10tn in investments is expected by the government through its annual budgets for the next 10 years, and SR5tn is anticipated from private consumption spending during the decade.
Achieving these targets should raise Saudi Arabia’s investment-to-GDP ratio from 22 per cent in 2019 to 30 per cent in 2030 and add the kingdom to the list of the world’s 15 largest economies, state news agency Spa announced on 11 October.
NIS will target sectors including manufacturing, renewable energy, transport and logistics, tourism, digital infrastructure and healthcare. It is expected to raise annual foreign direct investment (FDI) inflows and domestic investment to SR388bn and SR1.7tn, respectively, by 2030. Read more
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