Saudi Arabia is set to allocate SR1.6 T ($427B) in investments over the next decade, as disclosed by Minister of Transport and Logistics, Saleh Al-Jasser.
The ambitious target is to draw more than 30 million pilgrims and Umrah participants, along with over 100 million tourists annually, aligning with the objectives of Saudi Arabia’s Vision 2030.
Elevating Quality of Life and Visionary Goals Attainable with Saudi Competencies
The primary focus at present is to enhance the quality of life and improve individual services. Minister Al-Jasser stressed that Saudi Arabia possesses the necessary competencies and a skilled national workforce to realize its visionary goals.
Furthermore, the government plans to execute this substantial investment over the next ten years through collaborations with the private sector and international partners, according to Arabian Business.
The Kingdom has also established two significant aviation hubs to cater to citizens’ needs and establish connections with more than 250 global tourist destinations.
The Saudi-European Investment Forum, where these announcements were made, seeks to explore and promote investment opportunities in transportation and logistics sectors for both Saudi Arabia and European Union countries.
The overarching objective is to foster investment, strengthen economic ties, and facilitate the exchange of knowledge among participating nations.
