• The initiative will contribute to facing and overcoming the challenges faced by global supply chains, which have affected the efficiency and growth of the global economy
  • The initiative will support growth of key sectors and aim to attract SAR40bn of investment in its first two years
  • SAR10bn incentives budget has been earmarked to support several initiatives, including financial and non-financial support for global investors interested in incorporating Saudi Arabia into their supply chains.

Jeddah: His Royal Highness Prince Mohammed bin Salman bin Abdulaziz, Crown Prince, Prime Minister and Chairman of the Council for Economic and Development Affairs, announced today the launch of the Global Supply Chain Resilience Initiative (GSCRI). The GSCRI aims to make Saudi Arabia a location of choice for leading global industrial companies looking to drive competitive advantage and improve business resilience.

As His Royal Highness mentions that the Global Supply Chain Resilience Initiative will provide a great opportunity to achieve common successes. Working along with other development initiatives that have been launched in recent years, it will help to enable investors, from all sectors, to benefit from the Kingdom's resources and capabilities and support and develop these value chains. It will also build successful investments, which will give greater flexibility to economies, businesses and consumers around the world. It will ensure the provision and sustainability of supply chain access to all parts of the world effectively and with highly competitive advantages. Finally, the GSCRI will bring the Kingdom closer to achieving its Vision 2030 aspirations to be a top 15 global economy by 2030 and leave a prosperous legacy for future generations.

The GSCRI is one of the initiatives of Saudi Arabia’s National Investment Strategy, launched in October 2021 to accelerate efforts to make the Kingdom a global investment powerhouse. The initiative aims to enable global investors to make optimal use of the Kingdom’s natural resources and untapped potential and form strong relationships with regional and global markets.

The GSCRI aims to make the Kingdom an optimal investment environment for all investors in supply chains, through several steps. These steps include, identifying and developing investment opportunities and presenting them to investors, establishing a number of special economic zones in the near future, through which an attractive environment can be created for investors, in addition to attracting the regional headquarters of international companies to the Kingdom. The Kingdom is also working to implement regulatory and procedural reforms in various aspects, which, in turn, will contribute to further improving the investment environment and increasing its attractiveness and competitiveness. As well as make the investment plays an essential role to achieve economic growth and diversity in light of Saudi Vision 2030 objectives.

The pandemic, trade disputes and the geopolitical landscape have broken or weakened global supply chains, driving up commodity prices and disrupting production and distribution. This initiative aims to strengthen the position of the Kingdom of Saudi Arabia in the global economy, and to mitigate the impact of global disruptions.

The Global Supply Chain Resilience Initiative will leverage the Kingdom’s resources, infrastructure and location to bring greater resilience to economies and companies across Europe, the Americas and Asia, while further enhancing Saudi Arabia’s position in the global economy.

The strategy of continuous enhancement of the investment environment will be coupled with attractive opportunities and a unique incentives budget, including SAR 10bn in financial and non-financial incentives. This aims to attract SAR 40bn of quality, industrial and service investments in global supply chains to the Kingdom within the launching phase.

Saudi Arabia offers a strong value proposition to investors across several key dimensions. It provides a resilient economy which is the largest in the Middle East and the fastest growing in the G20, a strategic location at the heart of three continents and a source of key raw materials for manufacturing. Saudi Arabia also offers access to oil, gas, electricity, renewable energy and human resources at competitive costs.

The Kingdom offers a robust logistics infrastructure across industrial cities, airports and ports, with ambitious expansion plans underway as part of the National Transport and Logistics Strategy. The country’s digital infrastructure has witnessed significant progress, with widespread high-speed internet coverage and 5G now available to nearly 80% of the population. Saudi’s workforce is young, educated and ambitious, with Saudis under the age of 30 accounting for about 60% of the population.

In addition to these advantages, the Kingdom has launched many ambitious plans and programs that have already begun to be implemented, with the aim of achieving sustainability, protecting the environment and confronting climate change. These plans include major initiatives such as the “Green Saudi Arabia” and the “Green Middle-East” initiatives, and the program to diversify the energy mix used in generating electricity, so that the proportion of renewable energy in electric power production will be 50% by 2030. They also include the development of Blue and Green hydrogen production; to make Saudi Arabia the largest producer and exporter of this product, as well as pioneering steps in the development and application of carbon capture technologies, which supports the National Initiative for Global Supply Chains in one of its main axes to attract green investment opportunities such as: manufacturing green metals using green hydrogen, manufacturing hydrogen production devices by electrolysis, advanced industries in recycling and others, in furtherance of Saudi Arabia's initiatives for the circular carbon economy.

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Media Contact: misa@consulum.com

About the GSCRI

For more information, please visit the website

About the Ministry of Investment

The ongoing transformation of Saudi Arabia under the Vision 2030 economic development and diversification plan is unlocking new investment opportunities at an unprecedented pace. The Ministry of Investment of Saudi Arabia (MISA) is facilitating access to these opportunities by developing a vibrant cross-government investment ecosystem, facilitated by Saudi Arabia’s National Investment Strategy.

Through a network of representative offices across the world, MISA partners with businesses of all scales and sizes—from startups to blue-chip multinationals—to help make investing in Saudi Arabia as simple as possible. MISA also plays a leading role in improving Saudi Arabia’s overall business environment by facilitating investment data across regions and sectors, creating investment incentives, spearheading business reforms and opening up investment opportunities.

For more information on MISA, please visit the website or connect with #MISA on Twitter @MISA and LinkedIn.

About Invest Saudi

Overseen by Saudi Arabia’s Ministry of Investment (MISA), Invest Saudi is the Kingdom’s investment attraction and promotion entity charged with communicating and facilitating investment opportunities.

Invest Saudi is the primary point of contact for foreign investors seeking information and assistance before, during and after their entry into Saudi Arabia. It is committed to working in partnership with potential and current investors to make their investment journey a seamless experience.

For more information on Invest Saudi, please visit the website or connect with #InvestSaudi on Twitter and LinkedIn.