Saudi Gazette report

RIYADH — Minister of Investment and Chairman of the Board of Directors of the newly established Saudi Investment Marketing Authority Eng. Khalid Al-Falih said that the authority

will contribute to stimulating foreign direct investment flows. He said it will work as an important tributary enhancing the national efforts made to support the investment environment.

"The authority will undertake the task of marketing investment opportunities inside and outside the Kingdom and in various sectors, in cooperation and partnership with all the leading entities in these sectors. The authority will adopt the latest technologies and strategies in the field of investment marketing," he said while commenting on the decision of the Council of Ministers on Tuesday to approve the organization of the Saudi Investment Marketing Authority.

Al-Falih stressed that the authority will contribute to stimulating foreign direct investment flows, as well as to enhance national investments, and support national investors. "This will support economic growth, provide quality job opportunities, and enhance innovation and knowledge transfer, which will positively reflect on the sustainability of development in the Kingdom and the competitiveness of its economy," he said.

Al-Falih said that the new authority will highlight the competitive advantages and incentives that the Kingdom offers to investors, and highlight the investment opportunities associated with them, reflecting the qualitative transformation that the Kingdom is witnessing towards a more diversified and sustainable economy. "The Cabinet's approval of the organization of the Saudi Investment Marketing Authority is an embodiment of the continued support from the wise leadership for the investment system and investment environment in the Kingdom. This aims to consolidate Saudi Arabia's position as a world-class investment center, in line with the goals of the Vision 2030, which seeks to diversify the economy and enhance its competitiveness at the international level, to build a prosperous and sustainable economy, and in line with the plans, programs and objectives of the National Investment Strategy," he said.

Al-Falih said that the authority will adopt the latest technologies and strategies in the field of investment marketing, through plans and programs based on in-depth analysis of target markets, and benefiting from international partnerships and digital platforms, with the aim of reaching global investors, and introducing the advantages of the business environment in the Kingdom.

He pointed out that the business environment in the Kingdom is characterized by its unique strategic location, attractive regulatory environment, advanced infrastructure, and the proven capabilities of Saudi investors to enter into successful international partnerships. "This is in addition to promising and qualitative investment opportunities in strategic sectors such as technology, industry, tourism, transportation, logistics, renewable energy, health, education, and real estate development," he added.