Khalid Al-Falih, Saudi Minister of Investment
Ministry of Investment is working with Shareek program and the National Incentives Committee (NIC) on a large number of deals, whose value exceeds SAR 300 billion, said Khalid Al-Falih, Saudi Minister of Investment.
These deals are in the form of strategic investments that will contribute to replacing imports and stimulating exports, the Minister said at the Local Content Forum 2024.
Saudi Arabia launched special economic zones to host strategic investments across the Kingdom, which have already begun to achieve significant milestones, Al-Falih added.
The local content is a key driver of economy across various industries such as energy, industry, and tourism, among others and it requires a highly competitive investment climate, he noted, adding that the private sector boosts contribution to the Kingdom's exports, while fulfilling the needs of the growing economy.
Al-Falih indicated that 95 deals are currently undertaken through the Global Supply Chain Resilience Initiative (GSCRI) initiative, which focuses on value chains and is one of the key initiatives under the National Investment Strategy valued at SAR 100 billion. Additionally, three auto automotive complexes were launched, and there is still room to enhance supply chains in the whole industry. Further, negotiations are ongoing with Hyundai to localize automobile manufacturing in the Kingdom, as Saudi Arabia aims to produce 500,000 vehicles by 2030.
Comments {{getCommentCount()}}
Be the first to comment
رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}
{{comment.DisplayName}}
{{comment.ElapsedTime}}