Sat, Nov 09, 2024 | Jumada al-Awwal 7, 1446 | DXB ktweather icon0°C

Saudi Arabia displays investment opportunities at AIM 2022

Top Stories

Supplied photo

Supplied photo

Saudi Arabia had a dedicated investment stand in the Municipal Sector called 'Furas'.

Published: Tue 29 Mar 2022, 7:11 PM

Updated: Tue 29 Mar 2022, 7:13 PM

The Annual Investment Meeting (AIM 2022) focuses on today's foreign direct investment trends and prospects under the theme ‘Investments in Sustainable Innovation for a Thriving Future'. This blockbuster event brings along nations and companies from all around the globe under one roof to generate breakthroughs in investments for this post-pandemic world.

The Saudi stands displayed in AIM 2022 feature innovative and different investment options attracting global investors. This goes in line with Saudi Arabia's Vision 2030 that underscores that the socio-economic transformation is vital to the commendable growth across potential areas, offering investors a plethora of new prospects for corporate growth and success.

Saudi Arabia had a dedicated investment stand in the Municipal Sector called 'Furas'. This kiosk reciprocates the attractive incentives that Saudi Arabia offers to stimulate investment with the potential to diversify and increase the Kingdom's competitiveness to enable investment. Special incentives and assistance is offered to foreign-affiliated enterprises and multinational companies intending to open offices in the Kingdom. This only further cements Saudi Arabia's role as an investment hub as it endeavours to encourage convergence, facilitate knowledge transfer, and accelerate the development of the nation's skills and competencies.

Saudi's authority for Industrial Cities and Technological Zones also has a separate stand in AIM 2022. Modon has been involved in the development and monitoring of industrial areas and integrated infrastructure since its inception in 2001. It now manages 36 current and planned industrial cities around the Kingdom, as well as private industrial cities and complexes. It has managed to increase the size of developed industrial sites to over 200 million. These towns oversee 6,587 industrial and investment contracts and over 4000 factories, employing 517,242 men and women, including 185,840 Saudi men and 16,825 Saudi women.

Modon follows a well-defined strategy to make use of all the advantages of public-private partnerships. It effectively recruited prominent worldwide industrial enterprises and foreign investments that bring value to the Saudi industrial sector by offering several incentives in industrial cities. Modon has made significant headway in its internal collaborations, attracting about SAR 370 billion in funding. Amid the ongoing global industrial transformation, Modon devised several mechanisms to encourage small and medium-sized businesses, entrepreneurs, and significant local corporations to participate in the Kingdom's industrial development, thereby assisting in achieving Vision 2030's industry-dependent economic diversification goals.

Saudi Arabia is a future-forward nation with a progressive economy and offers unique investment opportunities with great potential, making it a perfect landscape for start-ups whose goals align with the globally emerging socio-economic trends. — business@khaleejtimes.com



Next Story