Arabian Weekly report
DAVOS — Minister of Investment Khalid Al-Falih revealed that Saudi Arabia has exceeded the set targets in the path of pumping investments worth $3.3 trillion in the primary economy, which is the target level to be achieved by 2030. He made the remarks while attending a dialogue session with Bloomberg at the World Economic Forum in Davos.
“When the Kingdom had formulated Vision 2030 in 2021, it estimated that $3.3 trillion would be pumped into the primary economy by 2030. We have exceeded our goals for capital formation so far, and a large amount of this capital has already been pumped into the primary economy,” he said.
Al-Falih attributed the government’s slowdown in spending to its desire for the private sector to lead economic growth. “The Public Investment Fund plays a strong and important role, although it undertakes less than 15 percent to 20 percent of investments,” he pointed out.
It is noteworthy that Al-Falih said earlier that investing in the Kingdom is the least risky in the world. He attributed this to a number of factors such as the political stability that has continued for decades without interruption, the stability of the currency pegged to the dollar, the high and optimistic credit rating, in addition to the high rates of profitability.