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Asharq Al-Awsat
Asharq Al-Awsat
World
Asharq Al-Awsat

Saudi Arabia Local Industry Secured $21 Billion in Investment in 2021, Says Minister

Saudi Arabia Kingdom Mohammed bin Salman
A general view of Riyadh, Saudi Arabia. (SPA)

Saudi Arabia attracted 81 billion riyal ($21.6 billion) of investments in the industrial sector in 2021 for both the private sector and joint ventures with government entities, the Saudi industry minister said on Monday.

The Kingdom has set itself high targets for diversifying its economy and reducing its dependence on oil, pouring hundreds of billions of dollars into Vision 2030 initiated by Crown Prince Mohammed bin Salman, Deputy Prime Minister and Minister of Defense.

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