Autumn: Saudi Arabia is a global investment destination with unique economic strengths
Minister of Industry and Mineral Resources, Bandar Al-Khorayef, affirmed that marketing the Kingdom of Saudi Arabia as a global investment hub is no longer just an aspiration, but has become a tangible reality and an easy matter, given the Kingdom’s unique mix of assets that are rarely found in other countries, most notably political and economic stability, a clear future vision, and the empowerment of human and industrial capabilities.
This came during Al-Khuraiji's participation in a panel discussion at the "Public Investment Fund and Private Sector Forum," where he highlighted the fundamental transformations witnessed by the Saudi economy. This statement comes within the context of the massive economic drive spearheaded by the Kingdom's Vision 2030, launched by His Royal Highness the Crown Prince, which aims to diversify income sources and reduce dependence on oil by transforming the Kingdom into a leading industrial power and a global logistics hub connecting three continents.
Strategic roles of the Public Investment Fund
Al-Khorayef explained that the Public Investment Fund (PIF) plays a key role in driving this transformation, undertaking three pivotal roles that are indispensable to the success of the industrial strategy:
- Direct investment in new sectors: The minister highlighted the fund's bold move to enter strategic sectors previously absent from the Kingdom's industrial landscape. Prominent examples include the automotive industry, the defense sector through the establishment and support of SAMI (Saudi Arabian Military Industries), which aims to localize military spending, and the pharmaceutical sector through investment in Livera. The fund also continues to develop existing national giants such as Ma'aden and SABIC to enhance their international competitiveness.
- Developing supply chains and infrastructure: The second role focuses on creating broad opportunities for supply chains, particularly in the mining sector, such as aluminum and phosphate supply chains. Al-Khuraiji highlighted the importance of potential large-scale projects for these sectors, citing the Saudi Railway Company (SAR) and the railway network that connects northern mines to industrial areas and ports, thus facilitating exports and logistics.
- Improving the legislative environment: The third role of the fund is to be a vital link that conveys the reality of the sectors and the field challenges to decision-makers, which contributes directly to reviewing and updating the systems and legislation to be more flexible and attractive to investors.
Economic impact and investment future
Economically, these moves are expected to enhance the Kingdom's position as a regional and international hub for industry and mining. Investment in infrastructure and specialized sectors will not only generate financial returns but will also create thousands of high-quality jobs for citizens, facilitate technology and knowledge transfer, and bolster the Kingdom's pharmaceutical and military security.
The integration of roles between the government sector, the Public Investment Fund and the private sector creates an attractive investment environment characterized by transparency and reliability, making the Kingdom a preferred destination for foreign capital seeking sustainable growth opportunities in a promising and rapidly developing market.
