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  • Sheryll Mericido

Minister of Investment Affirms National Investment Strategy as Key Driver for Saudi Vision 2030

In a recent session at the Northern Border Investment Forum, Engineer Khalid bin Abdulaziz Al-Falih, the Minister of Investment, highlighted the pivotal role of the National Investment Strategy in realizing the objectives of Saudi Vision 2030. Since the vision's launch, the Kingdom has undertaken substantial legislative and regulatory reforms to enhance economic competitiveness and sustainability.

Al-Falih emphasized the overarching goal of the National Investment Strategy—to elevate the quality and volume of investments in the Kingdom, thereby advancing economic development and diversification. Presenting 40 executive initiatives, the Minister showcased enticing investment prospects across diverse sectors and regions, catering to a range of investor profiles.

Key initiatives include integrating the 'Invest in Saudi Arabia' platform with local opportunities, establishing special economic zones with favorable regulations, and providing tailored services for major strategic investors. Al-Falih underscored the wealth of investment opportunities in the competitive sectors of the northern border region, with ongoing projects exceeding SAR 80 billion.

Highlighting the government's commitment and efficient coordination, the Minister outlined a groundbreaking project to double the Kingdom’s phosphate production capacity, positioning Saudi Arabia as the world's third-largest phosphate producer. This initiative, starting with Waad Al-Shamal, involves converting phosphate into advanced chemical products.

Al-Falih also addressed the northern border region's potential as a renewable energy hub, presenting an opportunity for electricity export to neighboring countries at remarkably low costs, including Iraq. The Minister's insights underscore the Kingdom's dedication to fostering a dynamic and sustainable investment environment in line with its ambitious Vision 2030 goals.

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