Saudi-Swiss investment to hit $3.2 billion by 2030

RIYADH: The newly-formed Saudi-Swiss Investment Forum, which will support investment in both countries, aims at hitting SR12 trillion ($3.2 billion) of financing by 2030, the Saudi Press Agency reported.

The body, launched on October 25, 2021 in Riyadh, will also back Swiss companies who want to invest in the kingdom.

Minister of Investment Khalid Al-Falih said the country’s plan is to make Saudi Arabia the most important export destination for Swiss companies.

Al-Falih added that the kingdom’s investment strategy has several key aims it plans to reach by 2030, including doubling annual domestic investment to 9 per cent of gross domestic product and boosting foreign direct investment by 20 times to 5.7 per cent of GDP.