RIYADH (SPA) The Saudi Ministry of Investment confirmed the acceleration in the pace of economic growth in the second half of 2021, as real GDP witnessed a growth of 7% in the third quarter and 6.7% in the fourth quarter, driven by the growth of the oil and non-oil sectors, which recorded growth By 10.9% and 5.1%, respectively, while foreign projects achieved new records, as the number of licenses for new foreign projects reached 3,386 licenses, achieving an increase of 347.9% compared to the second half of 2020. This was stated in the investment summary report for the second half of the year. 2021 issued by the Ministry today, which highlighted the national investment strategy, the transfer of the regional headquarters of international companies to the Kingdom, the investment performance in the second half of 2021, the most prominent developments of mega projects, in addition to a review of the most prominent investment opportunities on the “Invest in Saudi” platform. His Excellency the Minister of Investment, Eng. Khalid bin Abdulaziz Al-Falih, said: “The Kingdom is taking an additional historical step towards achieving the economic diversification it seeks. After the launch of the National Investment Strategy, the road map has become clear and clear before us, as we have laid the necessary foundations to transform the Kingdom into an investment power and a global center for practicing “Business and talent,” noting that the followed plan is mainly based on inviting investors to seize the huge opportunities that the Kingdom holds, and this plan falls within the framework of Vision 2030 and unleashing the Kingdom’s investment potential in an unprecedented way and enhancing the openness and competitiveness of its national economy. The investment summary report for the second half of 2021 also highlighted the national investment strategy and the main pillars of most of the important reforms around which the strategy revolves, which are four main pillars, where the first pillar is based on providing investment opportunities, and investors are the second pillar of the strategy, and the third pillar of the strategy They are financing, while competitiveness and enablers are the fourth pillar of the strategy. The report of the second half of 2021 dealt with the most prominent reforms, including the Museums Authority’s launch of its strategy to develop and reform the museum sector in the Kingdom, and the announcement of a new strategy worth $13 billion to transform the Asir region into a global tourist destination, and the Kingdom’s launch of an initiative worth $700 million to support the sports sector. To the Film Authority’s launch of its strategy to develop the Saudi film and cinema sector, and the launch of the first national strategy for music. Among the most prominent developments for investors, the report indicated the transfer of the regional headquarters of international companies to the Kingdom, where 44 multinational companies received licenses to transfer their regional headquarters, and that the targeted companies by 2030 are 480 companies, in addition to the most prominent investment projects in the sectors of tourism, entertainment, and financial services. and oil and gas, electricity, defence, human capital and innovation, information and communication technology, environmental services, real estate activities, healthcare and life sciences, mining and minerals, and education. The report mentioned the most important developments of mega projects, including the signing of a contract by the Red Sea Development Company with King Abdulaziz City for Science and Technology to provide the company with data from satellites, and the launch by Roshen of the Sidra project, its first integrated neighborhood in Riyadh, consisting of 30,000 housing units, and the signing of a partnership agreement. between King Salman Energy City (SPARK) and Hutchison Ports to manage and operate a dry port. The Historic Jeddah Development Program also received more support, announcing its spending of $960 million, and intending to raise $2.7 billion in financing. The Red Sea Company also signed 9 agreements with internationally reputable hotels, in addition to NEOM Digital Technology Holding signing an agreement worth 200 million. dollars with OneWeb. The report concluded by reviewing the most prominent investment opportunities in a number of sectors, including investment in the real estate sector worth $6 billion in the economic center in Jubail Industrial City, and in the energy and water sector worth $13-40 million in insulated circuit breakers with high and very high voltage, in addition to Investment in the industrial sector worth $25.5-28.6 million in permanent magnet motors for electric and hybrid vehicles.
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