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Asharq Al-Awsat
Asharq Al-Awsat
Business
Davos - Najlaa Habriri

Al-Falih: We Have Quadrupled Foreign Investment Flows

Falih Khalid alFalih Foreign Investment Oil World Economic Forum Saudi Arabia Lucid Motors Asharq AlAwsat Economy Davos
25 May 2022, Switzerland, Davos: Khalid al-Falih, Minister of Investment of Saudi Arabia, speaks during the "Saudi Arabia Outlook" session at the World Economic Forum Annual Meeting in Davos-Klosters. (World Economic Forum/dpa)

It might seem somewhat strange for one of the biggest electric car producers to open a factory in one of the world’s major oil-producing countries, but it actually boils down to the story of the most exciting economic transformation of the 21st century.

“It is one of the most exciting projects for us, and a project that I am personally proud of,” said Saudi Investment Minister Khalid al-Falih about Lucid Motors opening a factory for assembling electric automobiles in Saudi Arabia.

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