NIS focuses on 4 strategic pillars, offers 40 initiatives for private sector investment: Al-Falih

Minister of Investment Khalid Al-Falih

Saudi Arabia’s Minister of Investment Khalid Al-Falih said the realization of the National Investment Strategy (NIS) objectives requires a comprehensive development package that includes four strategic pillars, namely, investment opportunities; investors; funding; and competitiveness and enablers.

In light of the existing investment situation, NIS will be implemented through two tracks, Saudi Press Agency (SPA) reported. The first track includes short- to medium-term initiatives to stimulate investment at a faster pace and resolve the most prominent challenges immediately.

The second track includes sustainable and long-term programs that focus on radical solutions to structural challenges to extensively develop the investment ecosystem and the economy in general.

These programs will focus on making the investment environment in Saudi Arabia more supportive and attractive to local and international investors, enabling the Kingdom’s competitiveness and reforming the policy and legislation ecosystem.

Moreover, the NIS includes 40 implementing initiatives that offer qualitative investment opportunities to the private sector in several economic sectors for all types of investors across the Kingdom, Al-Falih affirmed.

Some of these initiatives aim to accelerate priority deals with appropriate terms and incentives; accelerate the public-private partnership and privatization agenda; launch the supply chain attraction program; connect “Invest Saudi” with all investment opportunities in the Kingdom; launch of special economic zones with a comprehensive and globally competitive package of financial incentives; provide differentiated services to key local and international strategic investors, and create a regional hub for start-ups to boost entrepreneurship in Saudi Arabia.

The NIS is the common link between new and existing initiatives, such as the “Shareek” Program and the program to attract regional headquarters.

The NIS aims to cultivate the national investment ecosystem through a combination of three committees. The committees are anchored around a Supreme National Investment Committee –chaired by Crown Prince Mohammed bin Salman – which directs and oversees the other two committees; National Investment Opportunities Identification and Development Committee and National Incentives Committee. Additionally, the Investor Council ensures direct and institutionalized communication between investors and government decision-makers.