● Newly launched Global Supply Chain Resilience Initiative (GSCRI) will attract $10.7 billion in foreign direct investment (FDI) by 2024, offering $2.7 billion in financial and non-financial incentives
● GSCRI to focus on boosting supply chain resilience through localization, will contribute to overcoming global supply chains challenges
● Ministry of Investment (MISA): GSCRI will further encourage investment growth
Riyadh, Saudi Arabia-:
This edition of the report explores the growth of the increasingly diverse non-oil sectors of the Saudi economy and provides updates on the latest investment deals and granted investment licenses. Details of the new Global Supply Chain Resilience Initiative (GSCRI) are disclosed in MISA’s Q3 2022 Investment Highlights, as well as those of emerging investment opportunities in the drive to position the Kingdom as a logistics hub.
GSCRI is a core initiative of the National Investment Strategy (NIS) supporting the potential of the Kingdom’s supply networks. The initiative seeks to attract foreign direct investment (FDI) inflows to export-oriented products and services across different sectors.
The initiative works to leverage the Kingdom’s resources, infrastructure, and geographic location to bring greater resilience to partner economies, securing against global uncertainty. Key incentives include financial incentives, regulatory incentives, tax incentives, access to capital, as well as support on business services and inputs.
GSCRI will support other investment initiatives including the creation of special economic zones, attracting international companies to set up their regional headquarters in Saudi Arabia, and supporting investors on their investment journey in the Kingdom
“NIS sits at the heart of Saudi Arabia’s economic diversification plans and the GSCRI is a key mechanism to help the Kingdom in its Vision 2030 goal of being a top 15 global economy by 2030, and attracting FDI to do so”, said H.E. Eng. Khalid AlFalih, Minister of Investment in response to the initiative.
This latest edition of Investment Highlights also has opening remarks by His Excellency Eng. Khalid Al-Falih, Minister of Investment, and H.E. Bandar Alkhorayef, Minister of Industry and Mineral Resources. It further features interviews with prominent private sector leaders and investors, including Lubna Olayan, Deputy Chair,Olayan Company & Chief Executive Committee of Olayan Financing Company, Eng. Walid Abukhaled, CEO of SAMI, Faisal Albedah, CEO of SAL,
Sultan Ahmed bin Sulayem, CEO of DP World, and Abdulaziz AlGasim, Founding Director of Abdulaziz AlGasim Law Firm
Ministry of Investment Launched its Investment Highlights Q3 2022 report, including a coverage of the recent initiative “GSCRI” announced by HRH, Crown Prince Mohammed Bin Salman
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