Saudi Minister of Investment Khaled Al-Falih confirmed that the volume of investment opportunities available in the Kingdom amounted to 12.4 trillion riyals, according to the National Investment Strategy, and that a large proportion of these investments are within the cities of the Kingdom.
According to Arabiya.net, Al-Falih said in a speech he delivered at the Municipal Investment Forum, held in Riyadh, that the volume of investment opportunities in the Saudi tourism sector amounts to 1.1 trillion riyals.
He stated that about 1.1 trillion riyals are the volume of investment opportunities in public utilities in the Kingdom, in addition to 1.7 trillion riyals, the volume of investment opportunities in the transport sector in the Kingdom.
He pointed out that a large proportion of the investment opportunities will be within the cities, adding that there are 4 main axes of the national investment strategy.
The Minister of Investment, Eng. Khaled Al-Falih, affirmed that investment is the fuel that will transform the Kingdom's cities from residential to economic engines comparable to the best global cities.
He said that the Kingdom has moved in the past decades from a country dominated by the rural and rural character of agriculture and grazing to a country comparable to the best countries in the world in terms of major cities, and we are proud of what we have achieved.
Al-Falih pointed out that the majority of the Kingdom's economy still comes from oil, mining and industrial cities in Jubail and Yanbu, but the productivity of cities is still behind compared to the major industrial countries, and cities today are a crucible for the manufacture of the new economy based on individual productivity.
