Major investment opportunities worth $6 trillion will be available in Saudi Arabia over the next 10 years within the framework of the opportunities provided by the Kingdom's Vision 2030, His Royal Highness Prince Mohammed bin Salman bin Abdulaziz, Crown Prince, Deputy Prime Minister, and Minister of Defense, has said.
Participating in a strategic dialogue session within the activities of the World Economic Forum, he said the opportunities included $3 trillion in investments in new projects, a Saudi Press Agency report said.
HRH Prince Mohammed was speaking in the presence of more than 160 influential international leaders and business leaders, representing 28 sectors and 36 countries.
HRH Crown Prince indicated that 85% of this huge economic program will be funded by the Public Investment Fund (PIF) and the Saudi private sector, while the remainder will be through stimulating foreign capital from the GCC countries and all countries of the world.
This is in light of the kingdom's intention to be a leading country in renewable energy and the fourth industrial revolution, tourism, transportation, entertainment and sports, based on the assets and gains it possesses.
HRH Crown Prince appreciated the role of serious and active partners who provide added value in transferring and localising knowledge and technology and enhancing talent within the kingdom.
HRH Prince Mohammed bin Salman reviewed the achievements made by the kingdom since the announcement of Vision 2030, in terms of doubling non-oil revenues, empowering women in the labour market and raising the level of competitiveness in the business environment.
He also reviewed strengthening the role of the PIF, the significant improvement made in environmental protection, and the kingdom's initiative regarding the circular carbon economy, which was approved by the G20 Summit chaired by the kingdom.
HRH Crown Prince indicated that the kingdom's previous achievements in accordance with Vision 2030 came within the framework of rapid transformation and reforms in the past four years, and that those reforms will double in the next ten years.
HRH Crown Prince stressed the role played by the kingdom in the framework of promoting development, supporting the stability of the region, and preserving the energy supply market, stressing the continuation of that role in the interest of the region, establishing security and peace and enhancing economic cooperation, the report said.
Source: Trade Arabia