Saudi Arabia has launched 192 billion riyals ($51.2 billion) of investments led by local companies, including oil giant Aramco , SABIC and Ma'aden , under a government-backed initiative, state news agency SPA reported.
Other investments in the telecommunications and logistics will also receive Shareek support.
Prince Mohammed had announced 12 trillion riyals of investments that the kingdom is planning by 2030, which include the Shareek programme, 3 trillion riyals from the Public Investment Fund and 2 trillion in foreign investment. As part of the plans, officials have also pressed international companies to invest in Saudi Arabia and move their regional headquarters to Riyadh in order to benefit from government contracts.
But the kingdom has struggled to attract foreign direct investment , one of the pillars of Vision 2030, which reached just under $4.1 billion in the first half of 2022, a fraction of the $100 billion target for the end of the decade.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
F1's 'moral vacuum': Drivers urged to tackle human rights in Bahrain, Saudi Arabia - AutoblogF1 drivers can help the sport avoid a 'moral vacuum' by speaking out at races in Bahrain and Saudi Arabia, human rights campaigners said on Tuesday.
Read more »
Saudi, UK ministers agree to study combat air cooperation -Saudi agencySaudi and British defence ministers have agreed to study future co-operation on combat air capabilities and potential industrial projects, the Saudi state news agency reported.
Read more »
Saudi, UK ministers agree to study combat air co-operation, Saudi agency reportsSaudi and British defence ministers have agreed to study future co-operation on combat air capabilities and potential industrial projects, the Saudi state news agency reported.
Read more »
Super Junior will introduce tourist attractions in Saudi Arabia through new travel reality 'Knight in the Lamp' | allkpopSuper Junior have partnered up with the Saudi Tourism Authority to launch a new travel reality, introducing viewers to various tourist attr…
Read more »
Saudi Investment Chief Ordered To Appear In Court As PGA-LIV Golf Legal Drama Heats UpYasir bin Othman Al-Rumayyan, governor of the $500 billion (assets) Public Investment Fund of Saudi Arabia, has 21 days to respond to the summons as the bitter professional golf power struggle boils over into geopolitics.
Read more »
Saudi-funded LIV Golf swings into TV, pales vs. PGA Tour viewershipThe Saudi-funded LIV Golf tour began its second season last weekend at the El Camaleon course in Playa del Carmen, Mexico, airing for the first time on the CW Television Network.
Read more »