Saudi Crown Prince Launches National Investment Strategy, a Key Enabler to Deliver on Vision 2030

Saudi Crown Prince Launches National Investment Strategy, a Key Enabler to Deliver on Vision 2030

Saudi Arabia's Crown Prince, Deputy Prime Minister and Chairman of the Council for Economic and Development Affairs, Prince Mohammed bin Salman bin Abdulaziz, announced Monday the launch of the National Investment Strategy (NIS), a key enabler to deliver on Vision 2030.

The NIS is a catalyst to deliver the Kingdom’s economic transformation plan Vision 2030, which was first outlined by the Crown Prince during its launch five years ago: “Our country holds strong investment capabilities, which we will harness to stimulate our economy and diversify our revenues”. The Crown Prince added that the Kingdom also seeks to harness its strengths: the strategic geographical position, investment power and place at the center of Arab and Islamic worlds.

The NIS will contribute to the growth and diversification of the Kingdom’s economy, which, in turn, will achieve many of Vision 2030’s goals, including raising the private sector’s contribution to GDP to 65%; increasing the contribution of FDI to GDP to 5.7%; increasing the contribution of non-oil exports to GDP from 16% to 50%; reducing the unemployment rate to 7%; and positioning the Kingdom among the top ten economies in the Global Competitiveness Index; by 2030.

Speaking at the National Investment Strategy’s launch, the Crown Prince said: