Saudi hopes to attract $427 billion in investments by 2030

Saudi Crown Prince Mohammed bin Salman attends the Future Investment Initiative Forum in Riyadh, Saudi Arabia October 24, 2018. Bandar Algaloud/Courtesy of Saudi Royal Court/Handout via REUTERS

Saudi Arabia expects to attract investments of more than 1.6 trillion riyals ($427 billion) by 2030 in its push to boost industry, Energy Minister Khalid Al-Falih said on Thursday, according to state TV al-Ekhbariya.

“The program to develop national industries and logistics services (is) the largest and most important, and has a huge impact on the Saudi economy,” Al-Falih said.

The minister estimated that the country’s mineral wealth was worth more than 1.3 trillion riyals.

Reuters.com