The National Investment Strategy aims to develop and diversify the local economy, attract more foreign investments, promote non-oil exports, reduce unemployment rates, and enhance the Kingdom of Saudi Arabia's position to be among the top ten in the Global Competitiveness Index by 2030.
The National Investment Strategy is one of the key enablers for achieving Saudi Vision 2030 by leveraging the Kingdom's capabilities and strategic geographic location. It was launched by the Crown Prince, Prime Minister, Chairman of the Council of Economic and Development Affairs, His Royal Highness Prince Mohammed Bin Salman Bin Abdulaziz Al Saud, on October 11, 2021.
Objectives of the National Investment Strategy
The National Investment Strategy aims to double investment opportunities for Saudi and international investors, providing lucrative opportunities, empowering the private sector, and diversifying and developing a sustainable economy. Additionally, it seeks to attract and localize technologies, improve the quality of life, refine human capital skills, develop infrastructure, and create job opportunities.
The strategy is centered around providing financing solutions and empowering investors, enhancing competitiveness, providing and developing investment opportunities, and increasing the effectiveness of the partnership between the public and private sectors.
The National Investment Strategy and Saudi Vision 2030
The National Investment Strategy contributes to achieving several of the Saudi Vision 2030 goals by increasing the private sector's contribution to the Gross Domestic Product (GDP) to around 65 percent, raising the percentage of non-oil exports from less than 15 percent to 50 percent, and supporting foreign direct investment to reach 5.7 percent of GDP. Additionally, it aims to reduce unemployment rates to 7 percent and reach one of the top ten ranks in the Global Competitiveness Index by 2030.
The National Investment Strategy and economic growth
Future phases of the National Investment Strategy focus on developing detailed investment plans for each sector, including the industrial sectors, transportation and logistics services, renewable energy, digital infrastructure, tourism, and healthcare. The development processes are undertaken through the participation of several entities, led by the Public Investment Fund (PIF), with contributions from the private sector and major Saudi companies.
The National Investment Strategy is a pivotal component of the economic growth system, aimed at raising net foreign investment flows to approximately SAR388 billion annually and increasing local investment to SAR1.7 trillion annually by 2030.
The National Investment Strategy programs and initiatives
The number of programs and initiatives linked to the National Investment Strategy reaches forty executive initiatives that offer qualitative investment opportunities for the private sector in several sectors and across all provinces of the Kingdom, catering to all types of investors. These include: accelerating priority investment deals by providing suitable incentives; accelerating public-private partnerships and privatization programs; launching a supply chain attraction program; linking the Invest Saudi platform to all investment opportunities in the Kingdom; launching special economic zones with appropriate and stimulating legislation; providing distinguished services to large strategic investors, including both local and international; and establishing a regional startup center to enhance entrepreneurship in the Kingdom.
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