Arab News, Wednesday, Dec 30, 2020 | Jamadi Al Awwal 15, 1442
Saudi Arabia eyes bigger overseas investments in industrial, services sectors: minister
Saudi Arabia: Saudi Arabia is looking to boost its overseas
investments and expand its global footprint in several sectors including
industrials and services over the coming years, said Minister of Energy Prince
Abdulaziz bin Salman.
Several companies, such as Saudi Aramco, SABIC, and ACWA Power, in addition to
other private companies, are targeting international expansion in several
sectors, the minister told Sharq News TV.
The Kingdom is keen to provide a favorable investment environment that attracts
new overseas investments in sectors, including energy and non-energy focused
ones, Prince Abdulaziz added.
Work is underway to raise the percentage of local content, create more jobs, and
develop technologies that are marketed overseas, the minister said.
The minister also noted that the Kingdom has clear goals, including using
natural gas and renewable energy in supplying electricity.