Saudi Arabia is aiming to become a hub for global trade. Special emphasis is placed on non-oil sectors. The amount of investment in the country’s four main economic zones has increased to 4,720 crore Riyals or 1,260 crore USD dollars. Recently the investment account was raised in a special meeting.
According to Arab News reports, Lucid and Sira are the two largest companies in the country. But currently investment is not limited to these two. Several new projects were announced by the Saudi Special Economic Investment Forum in Riyadh. In particular, activities are being conducted around four main economic zones. The regions are King Abdullah Economic City, Ras Al Khair, Riyadh and Jazan.
Himmah has announced a special project in King Abdullah Economic City, for which 215 million riyals will be invested. The city will be equipped with a modern and dynamic economy. In terms of food, North Africa and the Middle East will become the center. On the other hand, SIAC Construction has announced an investment of 20 million riyals behind King Abdullah Economic City. The company will do specialized installation and construction work there. Will make the region a hub for state-of-the-art service delivery.
McDermott Arabia Company will invest 375 million riyals. The company has announced that it will work on the overall development and establishment of Ras Al Khair. However, additional importance will be given to the energy sector. Al Makin Energy (Saudi company) is going to make another important investment in Ras Al Khair. 214 million dollars will be invested for the progress of the energy sector.
Comment here