Saudi cabinet says kingdom witnessing 'unprecedented' investment opportunities

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JEDDAH: The cabinet on Tuesday discussed plans for the city of Riyadh recently revealed by Crown Prince Mohammad bin Salman.

The plans announed at the Future Investment Initiative last week would make the Saudi capital one of the 10 largest city economies in the world, as part of the Kingdom’s aim to diversify sources of income and grow the economy.

The Cabinet said the Kingdom is witnessing “unprecedented” investment opportunities as part of Vision 2030.

It said in a statement that the opportunities create an exceptional investment environment in the Kingdom that is supported by regulatory reforms and is attractive to investors.

It also discussed international and regional developments, including the Palestinian situation, during which it reaffirmed Saudi Arabia’s commitment to peace as a strategic choice.

It also stressed its keenness on the unity, sovereignty and integrity of Arab lands, and not accepting any violation that threatens the stability of the region.

The Cabinet also reviewed the developments of the coronavirus pandemic locally and internationally and the precautionary and preventive measures that have been taken to preserve the health and safety of citizens and residents.

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