The Kingdom of Saudi Arabia has entered into nine significant investment agreements with foreign companies, totaling over SAR 35 billion ($9.32 billion), to bolster global supply chains. This move, reported by Reuters, is part of the Kingdom’s Global Supply Chain Resilience Initiative (GSCRI).
Saudi Minister Al-Falih highlighted that these agreements aim to improve access to essential materials, enhance local manufacturing capabilities, and promote sustainability. The deals are expected to facilitate Saudi Arabia’s active participation in international supply chains.
At the World Investment Conference 2024, the minister noted a growing interest from investors in areas beyond mining, such as green energy and diverse development sectors.
The GSCRI offers quality investment opportunities for both local and foreign investors, leveraging Saudi Arabia’s competitive strengths and aligning with its developmental objectives. This initiative, launched by Crown Prince Mohammed bin Salman in October 2022, seeks to position Saudi Arabia as a pivotal hub in global supply chains.
For Saudi Arabia, ensuring access to regional and global markets is essential. This involves establishing export-oriented manufacturing facilities that provide economies of scale, financial stability, and global competitiveness.
