Saudi Arabia encouraging investment through 3 pillars: Minister

Riyadh – Mubasher: Saudi Arabia is moving from the phase of studies to implementation when it comes to exerting efforts to create a suitable environment to attract investments, said the Saudi Minister of Economy and Planning, Mohammad Al Tuwaijri.

Speaking at the Municipal Investment Forum (Furas), held in Riyadh on 24-26 February, the minister said that the government is considering and financing a number of projects to provide incentives for the private sector.

Al Tuwaijri further noted that the kingdom is working on the long run to provide sufficient infrastructure in line with Vision 2030 in cooperation with municipalities.

When asked by Mubasher about investment incentives in the coming period, the minister stressed the legislative aspect as well as providing the infrastructure needed for various projects and sectors.

Incentives are built on three pillars, creating a clear plan to measure performance, providing diversified financing sources through a transparent plan by the various ministries, and the third pillar is the role played by investment funds, led by the National Development Fund, in supporting all ministries and regions to utilize investment opportunities.