Saudi-Swiss investment to hit $3.2bln by 2030: minister

Khalid Al-Falih said the country’s plan is to make Saudi Arabia the most important export destination for Swiss companies

  
Saudi Arabian Minister of Investment, Khalid Al-Falih speaks at the 2021 Milken Institute Global Conference in Beverly Hills, California, U.S. October 19, 2021.

Saudi Arabian Minister of Investment, Khalid Al-Falih speaks at the 2021 Milken Institute Global Conference in Beverly Hills, California, U.S. October 19, 2021.

Reuters/David Swanson
The newly-formed Saudi-Swiss Investment Forum, which will support investment in both countries, aims to hit SR12 trillion ($3.2bn) of financing by 2030, the Saudi Press Agency reported.

The body, launched on 25 October in Riyadh, will also back Swiss companies who want to invest in the Kingdom.

Minister of investment Khalid Al-Falih said the country’s plan is to make Saudi Arabia the most important export destination for Swiss companies.

Mr Al-Falih added that Kingdom’s investment strategy has several key aims it plans to reach by 2030, including doubling annual domestic investment to 9 percent of gross domestic product and boosting foreign direct investment by 20 times to 5.7 percent of GDP.

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