Saudi finance ministry announces key planned projects for 2022

Saudi Minister of Finance Mohammed Al-Jadaan 

Saudi Arabia’s Ministry of Finance unveiled the key planned projects for 2022, which cover a number of business sectors.

In the field of transport, Saudi Arabia plans to undertake the National Road Safety Center project, in addition to launching car rental contracts services via Naql platform.

The Kingdom also seeks to provide housing for more than 130,000 beneficiaries and conclude over 100,000 residential contracts.

In telecommunications, Saudi Arabia plans to construct a special economic zone to attract local and international investments to expand reach to more than 10 global companies over the coming years.

Further, Saudi Arabia plans to develop the smart home market, while enabling mega projects as well as real estate developers to invest in these homes within the Quality of Life program.

Elsewhere, Saudi Data and Artificial Intelligence Authority (SDAIA) launches programs on the basics of data and artificial intelligence, in addition to company programs in line with the National Strategy for Data and Artificial Intelligence (NSDAI).

Saudi Arabia estimated public revenue in 2022 budget at SAR 1.045 trillion, and expenditure at SAR 955 billion, with an expected surplus of SAR 90 billion, the Ministry of Finance said in its 2022 pre-budget statement on Dec. 12, Argaam reported.