Riyadh, SPA:
Minister of Investment Khalid bin Abdulaziz Al-Falih expressed his gratitude to the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud, and His Royal Highness Prince Mohammed bin Salman bin Abdulaziz, Crown Prince, Deputy Prime Minister and Minister of Defense for the Cabinet's decision to launch the new Saudi Investment Promotion Authority (SIPA).
The Minister noted that the establishment of SIPA will enable an integrated approach to investment between government agencies while enhancing all activities and services related to investment promotion to support partnerships between local and foreign investors.
The launch of SIPA is made possible by the Kingdom’s first National Investment Strategy which seeks to unleash the potential of the Kingdom’s strong market fundamentals and the breadth and depth of opportunities created by Vision 2030. The strategy aims to increase investment to 30% of GDP, and catalyze the growth of emerging sectors in the economy.