Saudi Arabia eyes $420 bln foreign investments in infrastructure, transportation

Saudi Arabia eyes $420 bln foreign investments in infrastructure, transportation

Published 24 Mar,2021 via Asharq Alawsat (English Edition) - Saudi Investment Minister Khalid al-Falih revealed that the Kingdom's infrastructure and transportation sectors are seeking to attract around $420 billion in foreign investments over the next decade.

Speaking at the US-Saudi Arabia Business Leaders 2021 Virtual Forum, a two-day event organized by the US Chamber of Commerce in Washington, Falih said his country offers a variety of opportunities across different sectors that are attractive for US investors.

According to Saudi Arabia's national plan for transformation and economic diversification, dubbed “Kingdom Vision 2030,” foreign investments in the Gulf state are projected to reach $3 trillion.

Reaffirming that the Saudi economy enjoys a great resistance ability against challenges posed by the coronavirus pandemic, Falih said that authorities in the Kingdom have taken effective measures that increased foreign investments by 40%.

The minister confirmed that work in the Kingdom is underway to achieve social and economic transformation outlined by Kingdom Vision 2030.

He highlighted that Saudi