Saudi Arabia eyes FDI, boosts investment climate: ministry official

Saudi Arabia’s Ministry of Investment is in the pursuit of boosting the Kingdom’s investment climate and attracting more foreign direct investors by implementing incentive packages that improve market competitiveness.

“We are working to help the Kingdom become an attractive global investment hub, and to enable local as well as foreign players seize various opportunities through the G20 economies,” Saudi Press Agency reported, citing Nasser Al Mahasher, a senior official at the ministry.

The Kingdom, being a G20 member country, has attractive investment opportunities; it has more than 30 million highly educated candidates, of which 50% are still below the age of 30.

Further, Saudi Arabia, by virtue of its geographical location, grew the logistics services segment, bolstered by population growth, strong demand for e-commerce and the Kingdom’s mega projects under Vision 2030. The logistics services sector, which is currently valued at $19 billion, is forecast to be the world’s fastest growing, representing 12% of its marine trade exchange.

This came during a Business Webinar: Unlocking Business and Investment Opportunities in Saudi Arabia, held by the Saudi Ministry of Investment and the Cyprus-Saudi Arabia Business Association.