We shall be working towards building a solid economy based on strong grounds that will lead to the multiplication of the sources of income...- King Salman Bin Abdulaziz Al-Saud
Our vision is our determination to become a global investment powerhouse. Our nation holds strong investment capabilities, which we will harness to stimulate our economy and diversify our revenues– HRH Prince Mohammad bin Salman – Vision 2030
Building on the Kingdom’s existing strengths, the overall objective of the NIS is to increase the quality and magnitude of investment in the Kingdom, which will help drive economic development in line with Vision 2030 and across priority sectors with a stronger domestic and international private sector role.
Sectors of particular importance include green energy, technology, healthcare and biotechnology, and advanced modes of mobility and logistics, as well as cross-cutting themes such as innovative startups and entrepreneurship.
Four objectives leading the way for sustainable growth and expansion
The NIS is a coordinated cross-government effort, aligning all stakeholders to ensure Saudi Arabia becomes a competitive investment destination.
The Ministry of Investment (MISA) is the central driver of the NIS, working across government to identify and consolidate investment opportunities, turning the Kingdom’s potential into tangible and viable projects.
Private sector investors, both local and international, will become true partners in its development, with state investment helping to de-risk, enable and ‘crowd-in’ others.
The NIS includes initiatives which fit within four strategic pillars:
Competitiveness and enablers
Generate strong and diversified investment opportunities
Engage with different types of investors to increase participation
Diversify Funding Sources for Investment
Construct a stable, attractive investment environment for local and foreign investors with competitive, predictable regulations
The NIS builds on a history of unparalleled ambition and rapid economic reform through Vision 2030 to unleash Saudi Arabia’s full investment potential, enhancing the economy’s openness and competitiveness.
Investors have long played a crucial role in Saudi Arabia’s transformation story, though traditionally, inward investment has been concentrated around the oil and gas sector – the historic driver of the Kingdom’s growth.
Since the discovery of oil in 1938, global investors have flocked to Saudi Arabia to take advantage of the business opportunities available as a result of the country’s abundant natural resources, which in turn catalyzed the development of other related industries and segments as the Kingdom’s population grew.
In 2016 the dawn of Vision 2030 ushered Saudi Arabia into a new era of transformation and diversification, driving the country to open and reform at an unprecedented pace.
Saudi Arabia has been capitalizing on the momentum behind this transformation journey to enact extensive cultural and social changes, opening up new sectors with far reaching positive disruption beyond just economic growth.
Vision 2030 has fast-tracked the development of sectors such as tourism, arts and culture, renewable energy and entertainment. ‘Giga-Projects’ such as Neom, Qiddiya, and the Red Sea are injecting the Kingdom’s nascent non-oil sectors with innovation, global best practices and a future-forward approach.
As society and culture changed, so too has the business environment. A sweeping program of game-changing regulatory reforms has streamlined the investment process, driving down the time for foreign investor license applications from three days to three hours and enabling 100% foreign ownership across most sectors.
The Kingdom has already implemented over 200 identified economic reforms designed to make it easier, quicker and less costly to do business. The risk of investing has declined thanks to new laws and investor safeguards.
Saudi Arabia’s long-term prospects have also been boosted by the promising post-pandemic rebound, which reflects decades of economic strength and resilience. The Saudi COVID-19 response was driven by swift, comprehensive support introduced to ensure business continuity for the private sector.
As Saudi Arabia moves into the next phase of its investment story with the launch of the NIS, the country’s upward trajectory will accelerate even further and both foreign and Saudi investors will play an increasingly vital role in the success of Vision 2030.
The NIS will turbo-charge the pace of pro-business reforms through a cross-government framework that can give investors’ confidence in the longer-term opportunities available across the Saudi market.
The NIS is a catalyst to deliver the Kingdom’s economic transformation plan Vision 2030Read More
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