The fourth quarter of 2021 recorded a 400% jump in the issuing investment licenses compared to the same quarter of the previous year, deputy minister for economic affairs and investment studies at the Ministry of Investment, Dr. Saad Alshahrani said.
On the sidelines of the Invest Saudi Forum at Expo Dubai 2020, Dr. Alshahrani explained that National Investment Strategy (NIS) launched about 40 initiatives to support the legislative reforms in the investment environment in Saudi Arabia. As reported by Al-Arabiya.
The legislative reforms aim to boost investments to surpass $100 billion (SR388 billion) by 2030.
He pointed out that Saudi Arabia’s targeting of foreign investment flows to SR388 billion by 2030 would help the National Investment Strategy to reach the targets and review them annually.
Dr. Al-Shahrani stressed that these targets are comprehensive to support pivotal, promising, and emerging sectors, such as tourism, entertainment, culture, sports, transportation, logistics, education, and many more.
The National Investment Strategy aims to make Saudi Arabia one of the 15 largest economies on the top of the world, Dr. Al-Shahrani declared.
It also will reduce unemployment in Saudi Arabia to be less than 7% by 2030.