Saudi Arabia will invest SR1.6tn ($427bn) in the next decade, according to a government minister.
Minister of Transport and Logistics Saleh Al-Jasser said at the Saudi-European Investment Forum that the Kingdom of Saudi Arabia has set the ambitious goal of attracting more than 30m pilgrims and Umrah performers and more than 100m tourists every year to achieve one of the targets of the Kingdom’s Vision 2030.
The focus, he said, is currently on enhancing the quality of life and improving individual services.
Saudi investment plan
The minister emphasised that Saudi Arabia’s vision is exceptionally ambitious, and that the country has the needed competencies and competitive national workforce to achieve its goals.
He also said that the government plans to invest some SR1.6tn ($427bn) in the next 10 years through partnerships with the private sector and various countries.
Additionally, he said, the Kingdom has developed two significant aviation centres to help meet the citizens’ needs and connect the country with over 250 global tourist destinations.
The forum aims to review and promote investment opportunities for both KSA and European Union countries, especially in the transportation and logistics sectors.
The objective is to encourage investment, enhance economic integration and bilateral relations, and facilitate participating nations’ exchange of knowledge.
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