Saudi invites Malaysian business community to invest in projects under Vision 2030

KUALA LUMPUR: Saudi Arabia has invited Malaysian business community to invest in various projects under the kingdom's Vision 2030 and to take advantage of the facilities granted by the country to foreign investors, especially that the Vision 2030 includes many new and attractive investment opportunities.

In making the call, Saudi Arabia's ambassador to Malaysia Datuk Dr Mahmoud Hussein Saeed Qattan said there were many investment opportunities in the kingdom in which Malaysian companies could invest, especially in the industrial sector.

The industrial sector was an essential part of the diversified economy of the kingdom in accordance with its Vision 2030, he explained, adding that Malaysia, as one of the leading industrial countries, could seek opportunities for its companies.

"My message to the Saudi and Malaysian business communities is to continue to intensify the continuous and direct communication and cooperation between businessmen in the two countries and to exchange information related to the commercial and investment opportunities available in all sectors," he told Bernama in conjunction with the kingdom's 92nd National Day on Sept. 23.

The modern Kingdom of Saudi Arabia, which is the largest country in the Arabian Peninsula, was established by King Abdulaziz Al-Saud in 1932.

Qattan also pointed out that there are opportunities in the tourism, cultural and entertainment sectors, where the country was working within the projects of the Vision 2030 to launch and develop new entertainment projects, host events and festivals on an international level and develop Saudi historical and heritage sites.

"Leading Malaysian companies in the fields of tourism, entertainment and culture can invest in these fields and projects.

"We also have a great interest in health projects, as well as projects related to developing family entertainment centres and natural energy projects, all of which are areas in which Malaysian companies can invest," the ambassador further said.

Vision 2030 was launched in April 2016 with the roadmap drawn up by Crown Prince Mohammed bin Salman bin Abdulaziz Al-Saud.

The Vision stems from the strategic location, investment power and place of the kingdom at the centre of Arab and Islamic worlds.

It represents a comprehensive national development plan that aims to transform the kingdom into a world-leading model by empowering its citizens to unleash their energies and capabilities and invest strengths to create a diversified and prosperous economy and build a vibrant society that enjoys a healthy life.

It also serves as a strategic framework to reduce Saudi Arabia's dependence on oil, diversify its economy, and develop public service sectors such as health, education, infrastructure, recreation and tourism. - Bernama

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