November 22, 2020
1 min read

Saudi to boost economy with a new national investment strategy

Saudi Arabia has announced that it will launch a national investment strategy next year, according to a state media report.

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, Xinhua news agency quoted the report as saying.

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,” the Minister added.

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.

Also Read: G20 Summit: Saudi Calls For Equitable Access To Vaccines

Also Read: UAE lauds Saudi Arabia ahead of G20 summit

Previous Story

US Covid-19 cases reach 12 million

Next Story

Italy Allocates More Funds To Reboot Economy

Latest from -Top News

Ghana Welcomes PM Modi

Hundreds of people, including locals, started chanting “Modi-Modi”, “Bharat Mata Ki Jai” and “Vande Mataram” as soon as PM Modi arrived at the hotel….reports Asian Lite News Prime Minister Narendra Modi received

Musk Signals Thaw in Trump Rift

Musk credited Trump for resolving major global conflicts, tagging a Truth Social post to back his claim….reports Asian Lite News Tesla CEO and former presidential advisor Elon Musk appeared to signal a

Tibetans Slam China’s ‘Reincarnation Politics’

Sikyong said the Chinese government is systematically working to erase Tibetan identity by targeting its language and religion, core pillars of its cultural heritage….reports Asian Lite News With the Dalai Lama entrusting
Go toTop