News dalla rete ITA

13 Ottobre 2021

Arabia Saudita

SAUDI ARABIA REVEALS $7TN INVESTMENT PLAN

Crown Prince Mohammed bin Salman revealed the $6.7tn National Investment Strategy (NIS) to help achieve the goals of Saudi Arabia's Vision 2030 programme. NIS is expected to include the injection of $3.2tn  into the local economy until 2030. This entails $1.3tn  through the Shareek initiative; $0.8tn  from sovereign wealth vehicle Public Investment Fund; and $1.1tn  through investments by local and international companies facilitated by NIS.   Another $2.7tn  in investments is expected by the government through its annual budgets for the next 10 years, and $1.3tn  is expected from private consumption spending during the decade.   Achieving these targets is expected to raise Saudi Arabia’s investment-to-GDP ratio from 22 per cent in 2019 to 30 per cent in 2030 and add the kingdom to the list of the world’s 15 largest economies, state news agency SPA announced on 11 October.   NIS will target sectors including manufacturing, renewable energy, transport and logistics, tourism, digital infrastructure and healthcare, and is expected to raise annual foreign direct investment (FDI) inflows and domestic investment to $103bn and $453bn, respectively, by 2030.   The programme is expected to raise the private sector’s and FDI contribution to GDP to 65 per cent and 5.7 per cent, respectively. The contribution of non-oil exports to GDP is expected to reach 50 per cent from 16 per cent, and the unemployment rate is expected to drop to 7 per cent.   “Today, the kingdom embarks on a new investment era to empower Saudi and international private-sector investors with more and better opportunities,” the crown prince said.   “[NIS] is all about empowering investors, offering investment opportunities, providing financing solutions and enhancing competitiveness. It also clarifies the partnership between the public and private sectors, as our mission is now to open the door to the private sector and allow it to grow and prosper.” (ICE RIYADH)


Fonte notizia: Meed