Minister of Economy asserts Kingdom’s capability to attract sufficient foreign investments

Saudi Arabia confident to attract foreign investments: Economy Minister

Faisal Al-Ibrahim, Minister of Economy and Planning

Saudi Arabia is confident to attract large-scale foreign investments as part of its diversification program, Bloomberg reported, citing Faisal Al-Ibrahim, Minister of Economy and Planning.

The Kingdom has so many enablers that can attract a lot of partners, he said, citing the access to natural resources, regulatory changes and young population.

The country has the right kind of incentive structures and governance and processes to attract the right kind of investors for the right kind of returns, the minister said.

Al-Ibrahim noted that the government had made more than 700 regulatory changes to attract investors.

The minister stated that the Kingdom wants to create more jobs and reach higher levels.

Moreover, he doesn’t expect higher interest rates to impact the Saudi private sector, the report said.