Saudi Arabia’s Crown Prince Mohammed bin Salman launched the Kingdom’s National Investment Strategy (NIS) on Monday, the official Saudi Press Agency (SPA) reported, Trend reports citing Al Arabiya.
According to SPA, the National Investment Strategy is one of the main enablers to achieve the goals of Saudi Arabia’s Vision 2030 program.
The National Investment strategy will contribute to the growth of the national economy and diversifying its sources, which will achieve many of the goals of the Vision 2030, including raising the contribution of the private sector to the gross domestic product to 65 percent, and promoting foreign direct investment to reach 5.7 percent of the total GDP.
When launching Vision 2030, the Crown Prince said: “Our country has huge investment capabilities, and we will seek to be an engine for our economy and an additional resource for our country.”
The strategy will also achieve the vision’s goals of increasing the proportion of non-oil exports from 16 percent to 50 percent of the total non-oil GDP, reducing the unemployment rate to 7 percent, and advancing the Kingdom to one of the top ten positions in the global competitiveness index by 2030.