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Saudi Arabia establishes new investment marketing administration to inject USD3.2T of investments

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(MENAFN) Saudi Arabia’s Cabinet has declared the launch of the Saudi Investment Marketing administration as the Nation strategies to finance at least SR12 trillion (nearly USD3.2 trillion) of investments in the economy by the end of the decade.

The Saudi Press Agency mentioned in a report that it is going to also hold the accountability of marketing and attracting finances to the nations via arranging strategies as well as schemes, domestically and globally.

The new administration targets to improve all business and services associated to investment marketing and reach collaboration among companies, in line with the Ministry of Investment’s announcement.

Saudi Arabia’s Investment Minister Khalid Al-Falih published on Twitter that “The Saudi Investment Marketing Authority will be a strong driver for the investment system, in accordance with the National Investment Strategy that aims to lure and develop national and foreign investments.”

Remarking on the establishing of the administration, Mohammed Alsuwayed, past chief of vision realization office at the Ministry of Transport, informed Arab News that “It’s important to increase the synergy needed to implement the ministry’s initiatives and achieve the vision goals.”

Adding, “The authority was needed to get other entities involved and (held) accountable.”

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