The introduction of the new Saudi investment ministry will likely boost economy, increase investment opportunities, and render the Kingdom as a leading global investment hub, SPA reported, citing Khalid Al-Falih, the newly-appointed Investment Minister.

 

“The ministry will cooperate with both public and private sectors to promote new opportunities, support local investors, and lure mega global investments to a number of business segments,” Al-Falih stated.

 

“We will also work on improving the investment climate in Saudi Arabia via an array of reforms to boost the Kingdom’s competitiveness,” he added.

 

According to royal orders issued on Feb. 25, the Ministry of Investment replaced the Saudi Arabian General Investment Authority (SAGIA).

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