Saudi Gazette report

ALULA — Saudi Arabia offers investment opportunities worth $6 trillion over the next decade, including $3 trillion in investments in new projects as part of the Vision 2030, Crown Prince Muhammad Bin Salman said on Wednesday.

The Crown Prince made the remarks during his participation in a strategic dialogue session of the World Economic Forum which was attended by more than 160 influential international leaders and business leaders, representing 28 sectors and 36 countries.

The Crown Prince pointed out that 85 percent of this huge economic program will be funded by the Public Investment Fund and the Saudi private sector, while the remainder will be through stimulating foreign capital from the Gulf countries and all countries of the world by providing them with investment opportunities in promising sectors as well as efficient traditional sectors.

He said the huge investment is expected as Saudi Arabia intends to rise to a leadership position in renewable energy and the fourth industrial revolution, tourism, transportation, entertainment, and sports based on the assets it possesses, appreciating the role of serious and active partners who provide added value in transferring and localizing knowledge and technology and enhancing talent within the Kingdom.

During the session, Crown Prince Muhammad Bin Salman reviewed the achievements made by the Kingdom since the announcement of Vision 2030 in terms of doubling non-oil revenues, empowering women in the labor market, raising the level of competitiveness in the business environment.

He pointed out the significant improvement made in environmental protection, and the Saudi initiative regarding the circular carbon economy, which was approved by the G20 summit chaired by the Kingdom.

The Crown Prince also drew the attention of the participants to the rapid transformation and reforms carried out by Saudi Arabia over the past four years as part of the Vision 2030, adding that these reforms will double in the next ten years.