RIYADH: In a significant step to increase the nation’s appeal to foreign investors, the Kingdom has authorized the establishment of the Saudi Investment Marketing Authority. Crown Prince Mohammed bin Salman presided over a Cabinet meeting where this decision was reached. King Salman and Crown Prince Mohammed bin Salman were congratulated by Investment Minister Khalid Al-Falih, who said the permission was an important step toward achieving the authority’s strategic objectives.
Al-Falih said on X, “This approval is a crucial first step for the authority to accomplish its strategic goals and strengthen the Kingdom’s standing as a premier location for luring and energizing investment.” According to the Saudi Press Agency, the minister emphasized that this move shows the Saudi leadership’s commitment to bolstering the Kingdom’s investment environment. He also noted that the establishment of the authority corresponds with the goals of Vision 2030, which aims to diversify the economy, boost global competitiveness, and build a sustainable economic environment.
Working with pertinent stakeholders from a range of industries, the authority will be in charge of promoting investment prospects both domestically and internationally. It will be essential in emphasizing the Kingdom’s advantages over competitors and the incentives offered to investors. The authority will also highlight Saudi Arabia’s continuous economic change as it shifts to a more sustainable and diverse economy.
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