Investment Milestone
Saudi Arabia is making significant strides in its economic goals, surpassing expectations for investment in its primary economy. The Minister of Investment, Khalid Al-Falih, highlighted these achievements at the World Economic Forum in Davos.
During a session with Bloomberg, Al-Falih discussed the Kingdom’s Vision 2030, initially set in 2021, which aimed to channel $3.3 trillion into the economy by 2030. He confirmed that the country has already exceeded these capital formation targets.
Al-Falih explained that the government’s deliberate reduction in spending is designed to encourage the private sector to spearhead economic growth. He emphasized the role of the Public Investment Fund, which, despite its importance, constitutes only 15% to 20% of total investments.
He also noted that investing in Saudi Arabia carries minimal risk due to factors like enduring political stability, a currency pegged to the dollar, a strong credit rating, and high profitability rates.