The agreements will assist the Ministry of Investment’s efforts and goals to draw investments, encourage sector growth, and ease access to investment possibilities. According to the Saudi Press Agency, Saudi Arabia inked six memorandums of understanding (MoUs) in the areas of energy, quality of life, defense industries, transportation biotechnology, and finance (SPA).
The agreements were signed on the sidelines of the sixth edition of the Future Investment Initiative (FII), which kicked off in Riyadh on October 25,
Taking place from October 25-27 under the theme of ‘Investing in Humanity: Enabling a New Global Order’, the Future Investment Initiative has brought together more than 6,000 industry leaders, CEOs, policymakers, young leaders, and investors to discuss the role of businesses and investment in the future of technology, healthcare, food security, environment, geopolitics, cybersecurity, sports and much more.
Minister of Investment, Engineer Khalid bin Abdulaziz Al-Falih was present at the signing of these agreements. The MoUs aim “to enhance and develop capabilities and skills, address the main challenges facing the sectors, and benefit from experiences and best international practices, in addition to launching new initiatives, providing job opportunities, and opening regional offices in the kingdom in line with the objectives of the Kingdom’s Vision 2030”, reported SPA.
The MoUs are also in line with the efforts and objectives of the Ministry of Investment to attract investments, enable sectors to grow, facilitate access to investment opportunities, localise knowledge and experiences, develop regulations and policies, enhance access to services through partnerships between the public and private sectors while strengthening partnership efforts with the private sector in the social and economic transformation in the kingdom.
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