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Bnreport Business News Report


Saudi Arabia offers investment opportunities of $6tn over next 10 years

Saudi Arabia will offer $6 billion worth investment opportunities over the next ten years.

Saudi Arabia will offer $6 billion worth investment opportunities over the next ten years, Crown Prince Mohammed bin Salman said.

The Prince made those comment during an online briefing held by the World Economic Forum.

The Saudi Investment opportunities on offer “include $3 trillion in investments in new projects,” bin Salman said. The move comes “within the framework of the opportunities provided by the kingdom’s Vision 2030 and to establish new promising growth sectors”.

The Princes said the Saudi Public Investment Fund and the private sector will finance 85% of the large economic program. And, the rest will come from capital investments from investors in the Gulf and globally.

World Economic Forum

More than 160 influential international leaders and entrepreneur attended the World Economic Forum, representing 28 sectors and 36 countries.

In the event, bin Salman referred to Kingdom’s achievements in many aspects since the announcement of Vision 2030.

He pointed at the increasing non-oil revenues, empowering women in the labor market, raising business environment competitiveness level, activating PIF role, the significant improvement made in protecting the environment, and the Kingdom’s initiative regarding the circular carbon economy approved by the G20 summit which Kingdom chaired.

Bin Salman said these achievements are in line with Vision 2030 and within the framework of rapid transformation and reforms over the past four years.

He said these reforms will double in the next ten years.

In December 2020, the consumer price index increased by 5.3%, compared to the same month 2019.

Experts attributed such development to value-added tax increase from 5% to 15% since the start of July 2020.


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