Today, Monday, Saudi Crown Prince Mohammed bin Salman launched the National Investment Strategy, which is one of the main enablers to achieve the objectives of the Kingdom’s Vision 2030. According to the agency “SPA”.
Prince Mohammed bin Salman said that investments exceeding 12 trillion riyals ($3.2 trillion) will be pumped into the local economy until 2030, noting that 5 trillion riyals will be provided from partner program initiatives and projects, and 3 trillion riyals from the Investment Fund dedicated to local investments. And 4 trillion riyals of corporate investments under the umbrella of the national investment strategy.
He added: “In addition, the economy will receive an injection of about 10 trillion riyals of government spending through the state’s general budget during the next ten years and another 5 trillion riyals of private consumption spending for the same period, bringing the total of this spending to nearly 27 trillion riyals (7.2 trillion dollars). ) until 2030.
He pointed out that by achieving these goals, the investment ratio to the Kingdom’s GDP is expected to rise from 22% in 2019 to 30% in 2030, which will contribute to the growth of the Saudi economy to become one of the 15 largest economies in the world.
He also pointed out that the national investment strategy aims to raise net foreign direct investment flows to 388 billion riyals annually, and increase domestic investment to reach about 1.7 trillion riyals annually by 2030.
The Saudi Crown Prince expressed his satisfaction with what has been achieved so far within the framework of the “Vision 2030” plan, and said: “Today, we are proud of the impressive achievements made by the Kingdom of Opportunities, under the leadership of the Custodian of the Two Holy Mosques during the first phase of implementing the Kingdom’s Vision 2030, and we will continue to work towards A bright future, underpinned by a diversified and sustainable economy.”
(dollar = 3.75 Saudi riyals)