Saudi Arabia to launch national investment strategy next year

Source: Xinhua| 2020-11-22 03:07:15|Editor: huaxia

Saudi Minister of Investment Khalid Al-Falih speaks at a media briefing in Riyadh, Saudi Arabia, on Nov. 21, 2020. Saudi Arabia announced on Saturday it will launch a national investment strategy next year, the Saudi Press Agency reported. Khalid Al-Falih revealed in Riyadh at the media briefing ahead of the Group of 20 (G20) Leaders' Summit that the strategy grants full ownership rights to Saudi and foreign investors. (Xinhua/Tu Yifan)

RIYADH, Nov. 21 (Xinhua) -- Saudi Arabia announced on Saturday it will launch a national investment strategy next year, the Saudi Press Agency reported.

The Saudi Minister of Investment Khalid Al-Falih revealed in Riyadh at a media briefing ahead of the Group of 20 (G20) Leaders' Summit that the strategy grants full ownership rights to Saudi and foreign investors.

Despite a global pandemic, Saudi Arabia was not distracted from its strategy and Vision 2030, he said. "In fact, we doubled down on it. We accelerated our reforms. We continued to diversify our economy, and commit our resources to make sure that Vision 2030 is not derailed by the COVID-19."

He said that the strategy would ensure an increase in investment opportunities and involves the establishments of industrial cities and various economic zones.

The strategy will cover different sectors, including tourism, culture, sports, industries, artificial intelligence, technologies and health.

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