RIYADH/DUBAI (Reuters) - Saudi Arabia’s Minister of Investment Khalid al-Falih said on Saturday foreign direct investment (FDI) increased by 12% in the first half of 2020 compared with the same period last year.
FILE PHOTO: Saudi Arabian Investment Minister Khalid al-Falih, wears a mask as he attends a virtual meeting of B20 at the Saudi Business Group summit in Riyadh, Saudi Arabia October 26, 2020.
“When I mentioned the 12% increase I wanted to assure people that there was no decline, our FDI target is much higher,” Falih said on Saturday.
As part of efforts to attract foreign investors, Saudi Arabia will launch next year special economic zones dedicated to several sectors, Falih said.
In addition to attracting higher investment volumes, it will focus on “qualitative growth”, he said, mentioning areas such as cloud computing, renewable energy, tourism, culture, entertainment, and logistics.
Khalid, Falih, Khalid al, Ahmed Yosri, “ I’m, ” Falih
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