Progress towards Saudi’s Vision 2030 accelerating investments across tourism, fintech and digital economy – ArabianBusiness.com

Progress towards Saudi’s Vision 2030 accelerating investments across tourism, fintech and digital economy – ArabianBusiness.com

Saudi Arabia’s significant progress towards Vision 2030 is accelerating growth in the kingdom, despite ongoing Omicron concerns, according to foreign direct investment advisory Soveirgn AEI.

Saudi Arabia became one of the most attractive markets for international companies looking to expand through mergers and acquisitions in 2021. The country’s accelerated growth, which reached 6.8 percent in the third quarter of 2021, can be attributed to rising global demand for crude oil, ambitious Vision 2030 targets and the government’s increased focus on improving the private sector, in addition to progress in combating the coronavirus pandemic. This has strategically positioned Saudi Arabia for continued mergers and acquisitions growth in 2022.

“Saudi Arabia is probably the Middle East’s most active M&A market. Although this acceleration in M&A activity is widespread, we have seen notable increases in healthcare, education, logistics, manufacturing, infrastructure, and entertainment. Additionally, we have seen significant investment in ESG and green energy, as well as technology, particularly in niche industries such as healthtech, edutech, and fintech,” Paul Arnold, managing director of Sovereign Saudi Arabia said.