ablcc_newsletter-4th-edition-2021_A5_04

13 National Investment Strategy B eginning of October 2021, Crown Prince Muhammad Bin Salman announced the launch of the National Investment Strategy (NIS), a key enabler to deliver on Vision 2030. Crown Prince said “Investment is without a doubt one of the main routes for us to achieve the ambitions and aspirations of Vision 2030, among them economic development, diversification and sustainability; technology transfer and localization; infrastructure development; better quality of life; job opportunities and the upskilling of our human resources, leaving a legacy of prosperity for future generations.” He added: “The National Investment Strategy is all about empowering investors, offering investment opportunities, providing financing solutions and enhancing competitiveness. It also clarifies the partnership between the public and private sectors, as our mission is now to open the door to the private sector and allow it to grow and prosper.” This New Investment Strategy should contribute to the growth and diversification of the Kingdom’s economy, which, in turn, will achieve many Vision 2030’s goals, including raising the private sector’s contribution to GDP to 65%; increasing the contribution of FDI to GDP to 5.7%; increasing the contribution of non-oil exports to GDP from 16% to 50%; reducing the unemployment rate to 7%; and positioning the Kingdom among the top ten economies in the Global Competitiveness Index; by 2030. more information https://www.saudigazette.com.sa/ ar t i c le/612044/SAUDI -ARABIA/ Crown-Prince-launches-NIS-a-key- enabler-to-deliver-on-Vision-2030