Saudi Investment Promotion Authority strong driver for national, foreign investments: Al-Falih

Minister of Investment Khalid Al-Falih

Khalid Al-Falih, Saudi Minister of Investment, said Saudi Investment Promotion Authority (SIPA) will be a strong driver for the investment system, in accordance with the National Investment Strategy that aims to lure and develop national and foreign investments.

The decision to set up the authority aims to achieve integration and cooperation between the authorities, and improve all business and services related to investment promotion, as well as enhance investment attractiveness in the Kingdom.

In addition, the move aims to achieve the objectives of the National Investment Strategy and Vision 2030, the Ministry of Investment tweeted.

The ministry added that the establishment of the authority also aims to support the investment promotion activities in the Kingdom, as well as manage the unified national identity to promote and attract investments.

The move also aims to manage the “Invest in Saudi Arabia” e-platform as well as prepare promotion plans and programs locally and internationally, to enhance the attractiveness of investments to the Kingdom.

In addition, it encourages supporting partnerships that achieve development goals between local and foreign investors.

Saudi Arabia’s Cabinet, chaired by King Salman bin Abdulaziz Al Saud, greenlit today, Aug. 2, the establishment of Saudi Investment Promotion Authority and General Roads Authority, according to data available with Argaam.