Saudi Arabia Attracts Industry Investments Worth $18.6bn

Investment in Saudi Arabia’s industrial sector equaled $18.6 billion in the first seven months of 2021, Saudi Industry and Natural Resources Minister Bandar Ibn Ibrahim Ibn Abdullah Al-Khorayef said in a tweet.

The Saudi Minister stated that thanks to wise leadership and industrial transformation, “the Kingdom is witnessing a golden age of industry.”

At the beginning of 2019, Saudi authorities launched the National Program for the Development of Industry and Logistics.

The program is dedicated to the development of four sectors of the economy, which were supposed to diversify the economy of the Kingdom.

One of the biggest achievements of the program so far is the launch of the geological research program of the Arab Shield.

Last year, Saudi Arabia’s GDP fell by almost 12% – from $793 billion to $700 billion.

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