Saudi Arabia among top global investment destinations, says Al-Falih

Saudi Arabia is currently one of the best investment hubs when seeking a global investment destination, CNBC TV reported, citing Minister of Investment Khalid Al-Falih.

He explained that convincing international investors to invest their money in Saudi Arabia was not difficult, as investors were looking for a destination that offers several key factors, such as political and economic stability, predictability, a long-term vision, abundant opportunities, a strategic location and presence of local investors.

Saudi Arabia offers all of them, he added.

Almost 87% of the 1,000 Vision 2030 initiatives have been implemented or are nearing completion. Saudi Arabia included more goals after completing the initial ones.

NEOM is a city for the future, with its population expected to reach five million. However, it is impossible to go from zero to five million residents within two, five, or even 10 years, the minister said.

NEOM was intended to be built over time, as it is not feasible to build a city, spanning 170 kilometres, in a short period without initially building its economic system for support and sustainability.

The minister pointed out that several projects are close to being inaugurated, including the Trojena, which is set to open within two years.

The Sindalah project will be inaugurated soon, in addition to other projects, Al-Falih stated.