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Saudi Arabia Establishes Investment Marketing Authority to Enhance Economic Growth
New authority aims to boost global investment attractiveness and support Vision 2030 goals.
The Saudi government has officially approved the establishment of the Saudi Investment Marketing Authority, a significant initiative designed to enhance the Kingdom's global investment appeal.
This decision was announced during a Cabinet meeting presided over by Crown Prince Mohammed bin Salman.
Investment Minister Khalid Al-Falih expressed gratitude towards King Salman and Crown Prince Mohammed bin Salman for their support, marking the approval as a critical milestone in achieving the authority’s strategic objectives.
In his remarks on social media, Al-Falih noted, 'This approval marks a pivotal starting point for the authority to achieve its strategic objectives and enhance the Kingdom’s position as a distinguished destination for attracting and stimulating investment.'
The establishment of the authority underscores the Saudi leadership's commitment to fortifying the investment ecosystem, as reported by the Saudi Press Agency.
It aligns closely with the objectives outlined in Vision 2030, which seeks to diversify the economy, elevate global competitiveness, and support a sustainable economic landscape.
The new authority will focus on promoting investment opportunities domestically and internationally, working collaboratively with relevant stakeholders across various sectors.
Its role will involve showcasing the competitive advantages offered by Saudi Arabia and the various incentives available for potential investors.
The authority is expected to play a crucial role as the Kingdom undergoes a transformation towards a more diversified and sustainable economy.
Al-Falih highlighted that the authority will adopt modern technologies and advanced investment marketing strategies through comprehensive market analyses, international collaborations, and digital platforms designed to attract global investment.
Furthermore, it will strategically position Saudi Arabia as a premier investment hub, leveraging its advantageous geographic location, business-friendly regulatory framework, and world-class infrastructure.
Al-Falih asserted that the new authority is fundamental in enhancing foreign direct investment, expanding local investment opportunities, and supporting Saudi investors.
Recent statistics indicate that Saudi Arabia has witnessed a notable surge in foreign direct investment, surpassing the National Investment Strategy’s 2023 target by 16 percent.
The Kingdom emerged as the second-fastest growing G20 economy regarding FDI inflows and ranks fourth globally in total foreign investment growth, with nearly SR900 billion (approximately $240 billion) invested, representing a 13 percent increase.
Foreign investors have funneled more than SR350 billion into Saudi financial markets, and over 500 foreign companies have set up their regional headquarters in the country.
This decision was announced during a Cabinet meeting presided over by Crown Prince Mohammed bin Salman.
Investment Minister Khalid Al-Falih expressed gratitude towards King Salman and Crown Prince Mohammed bin Salman for their support, marking the approval as a critical milestone in achieving the authority’s strategic objectives.
In his remarks on social media, Al-Falih noted, 'This approval marks a pivotal starting point for the authority to achieve its strategic objectives and enhance the Kingdom’s position as a distinguished destination for attracting and stimulating investment.'
The establishment of the authority underscores the Saudi leadership's commitment to fortifying the investment ecosystem, as reported by the Saudi Press Agency.
It aligns closely with the objectives outlined in Vision 2030, which seeks to diversify the economy, elevate global competitiveness, and support a sustainable economic landscape.
The new authority will focus on promoting investment opportunities domestically and internationally, working collaboratively with relevant stakeholders across various sectors.
Its role will involve showcasing the competitive advantages offered by Saudi Arabia and the various incentives available for potential investors.
The authority is expected to play a crucial role as the Kingdom undergoes a transformation towards a more diversified and sustainable economy.
Al-Falih highlighted that the authority will adopt modern technologies and advanced investment marketing strategies through comprehensive market analyses, international collaborations, and digital platforms designed to attract global investment.
Furthermore, it will strategically position Saudi Arabia as a premier investment hub, leveraging its advantageous geographic location, business-friendly regulatory framework, and world-class infrastructure.
Al-Falih asserted that the new authority is fundamental in enhancing foreign direct investment, expanding local investment opportunities, and supporting Saudi investors.
Recent statistics indicate that Saudi Arabia has witnessed a notable surge in foreign direct investment, surpassing the National Investment Strategy’s 2023 target by 16 percent.
The Kingdom emerged as the second-fastest growing G20 economy regarding FDI inflows and ranks fourth globally in total foreign investment growth, with nearly SR900 billion (approximately $240 billion) invested, representing a 13 percent increase.
Foreign investors have funneled more than SR350 billion into Saudi financial markets, and over 500 foreign companies have set up their regional headquarters in the country.
