São Paulo – Saudi Arabia will offer USD 6 trillion worth of opportunities to investors over the next ten years, crown prince Mohammed bin Salman (pictured) said on Wednesday (13) at a strategic dialogue virtual event held by the World Economic Forum. He said USD 3 trillion of those investments would be in new projects as part of opportunities offered by the Vision 2030 reform program to establish new promising growth sectors.
Bin Salman said 85% of this huge economic program would be funded by the Kingdom’s sovereign wealth fund, the Public Investment Fund (PIF) and the Saudi private sector. The remainder would be through stimulating foreign capital from both Gulf nations and countries around the world.
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Saudi Arabia has sought to diversify its economy, which is largely oil-dependent, and aims at being a leading country in renewable energies and the fourth industrial revolution and has invested in tourism, transport, entertainment and sports.
The information are from state-run news agency Saudi Press Agency (SPA) and newspaper Arab News.
Translated by Guilherme Miranda
