Saudi Arabia plans to launch special economic zones in 2021, says Al-Falih

SourceSaudi Gazette
CountrySaudi Arabia

Saudi Gazette reportRIYADH — Saudi Arabia’s Minister of Investment Khalid Al-Falih said on Saturday that the Kingdom is planning to launch special economic zones dedicated to several sectors next year.The Kingdom has made attracting greater foreign investment a cornerstone of its Vision 2030 to diversify the economy of the world’s largest oil exporter away from oil revenues.”I’m glad to say that FDI, my area of focus, in the first half has been reported to increase by 12 percent compared to last year,” Al-Falih told reporters on the sidelines of the G20 in Riyadh.Speaking to a G20 panel, Al-Falih also said the Kingdom’s Vision 2030 plan to diversify the economy away from oil was more popular today than ever and that the country was emerging from the coronavirus pandemic with a resilient economy and private sector.”When I mentioned the 12 percent increase I wanted to assure people that there was no decline, our FDI target is much higher,” Al-Falih said on Saturday.Al-Falih described Saudi Arabia more...