Saudi Arabia’s recently launched National Investment Strategy (NIS) has been noted as “a key enabler to deliver on Vision 2030.” The ambitious program aims to raise more than $100 billion in foreign direct investment annually, combined with significant investments from the local private sector as well as the Saudi sovereign wealth fund, the Public Investment Fund, among others.
When launching the initiative, H.R.H. Crown Prince Mohammed bin Salman stated, “The Kingdom embarks on a new investment era to empower Saudi and international private-sector investors with more and better opportunities. Investment is without a doubt one of the main routes for us to achieve the ambitions and aspirations of Vision 2030.”
NIS aims to create incentives through the development of specialized economic zones, namely in areas of manufacturing, renewable energy, transport and logistics, tourism, digital infrastructure, and healthcare. These incentives will encompass funding, finance, taxes, regulations, and basic services.
The strategy will be implemented in two tracks with the first looking to boost short-to-medium initiatives to advance investment at a faster rate and streamline pre-existing challenges. The second track will focus on longer-term and sustainable projects in an effort to cultivate an investment environment that is supportive and attractive to investors both locally and internationally. With stakeholder support, NIS will be able to enhance the country’s overall competitiveness, as well as reform investment policy.
