Saudi Arabia invites Turkish investors for ‘2030 vision’

Saudi Arabia wants to see more Turkish investors in the context of its “2030 vision” to become a global investment powerhouse, Saudi Ambassador to Ankara Walid Bin Abdul Karim al-Kharaj said on July 11.

Speaking at the special session of the 22nd World Petroleum Congress in Istanbul, al-Kharaj said Saudi Arabia was strongly supporting its “2030 vision” to transform the economy.

The plan lays out a blueprint for Saudi Arabia’s long-term goals and expectations reflecting its strengths and capabilities. Some of the principles aim to turn the country into a “global investment powerhouse” and aim to transform its unique strategic location into a global hub connecting three continents, Asia, Europe and Africa.
Riyadh is implementing 13 national transformation programs to achieve this vision, which includes forming strategic partnerships, strengthening the private and public sector, and restructuring the country’s public investment funds.

Saudi Arabia’s General Investment Authority Head Ayidth al-Otaibi said they are seeking around $30 billion in investment per year in order to achieve the vision.

“We will try to avail of all opportunities that we can. We look forward to seeing Turkish investors in Saudi Arabia,” al-Otaibi added.

He also noted that renewable energy, mining, chemicals, and the retail, tourism and healthcare sectors would be among the main sectors they will focus on as part of the2030 vision.

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