Saudi Crown Prince launches National Investment Strategy
- Date: 12-Oct-2021
- Source: Gulf Business
- Sector:Economy
- Country:Saudi Arabia
Saudi Crown Prince launches National Investment Strategy
Saudi Arabia’s Crown Prince Mohammed bin Salman bin Abdulaziz announced the launch of the National Investment Strategy (NIS). The NIS will contribute to the growth and diversification of the kingdom’s economy, which, in turn, will achieve many Vision 2030’s goals, including raising the private sector’s contribution to GDP to 65 per cent; increasing the contribution of FDI to GDP to 5.7 per cent; increasing the contribution of non-oil exports to GDP from 16 to 50 per cent; and reducing the unemployment rate to 7 per cent, a statement said. Crown Prince Mohammed bin Salman said at the National Investment Strategy’s launch: “Today, the kingdom embarks on a new investment era to empower Saudi and international private-sector investors with more and better opportunities. Investment is without a doubt one of the main routes for us to achieve the ambitions and aspirations of Vision 2030, among them economic development, diversification and sustainability; technology transfer and localisation; infrastructure development; better quality of life; job opportunities and the upskilling of our human resources, leaving a legacy of prosperity for future generations.” “The National Investment Strategy is all about empowering investors, offering investment opportunities, providing financing solutions and enhancing competitiveness. It also clarifies the partnership
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The first-ever National Strategy for Drugs for Rare Diseases, with an investment of up to $1.5 billion over three years.
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