The Saudi Cabinet of Ministers at its meeting on Tuesday decided to establish a “Saudi Marketing and Investment Authority” to stimulate development and attract investment.
According to what was announced by the “National Transformation Program”, the approval by the Cabinet of Ministers of the establishment of the “Saudi Investment Marketing Authority” aims to achieve integration and cooperation between the authorities, and modernize all activities and services related to investment marketing, and make Saudi Arabia attractive place for investment in all sectors.
The goals of the body are to “achieve integration and cooperation between authorities and promote all business and services related to investment marketing”, “manage a single national identity to bring investments to the market and attract them to Saudi Arabia”, and “preparation of plans and programs”. related to marketing locally and internationally to increase the attractiveness of investments in Saudi Arabia”, as well as “Managing the Invest in Saudi Arabia e-platform”, “Encouraging and supporting partnerships between a local investor and a foreign investor to achieve development goals” and “Supporting marketing activities of Saudi investments”.
In this context, Saudi Investment Minister Khalid bin Abdulaziz Al-Falih confirmed that the decision of the Cabinet of Ministers to establish the Saudi Investment Marketing Authority is aimed at achieving integration between government institutions, improving all services and businesses related to investment marketing and investment opportunities. and maintain partnerships between investors in a way that increases direct and quality investment in Saudi Arabia.
He explained that the authorities will work to promote the Kingdom as an attractive place for regional and global investment, highlight investment opportunities in all sectors, and will work to strengthen and combine related efforts in the public and private sectors.
Al-Falih praised management’s interest in developing the investment environment and enhancing its competitiveness, explaining that the establishment of the Saudi Investment Marketing Agency is one of the initiatives of the national investment strategy and will help achieve the goals of the Saudi Vision 2030. to attract local and global investment and increase the diversity of the national economy.
Source: Saudi newspaper Okaz.