LONDON (Rahnuma): Saudi Arabia’s Vision 2030 economic reform program has created “immense opportunities” for Indian companies, Saudi Arabia’s ambassador to India said.
Writing in The Indian Express newspaper, Dr. Saud bin Mohammed Al-Sati said the number of Indian companies investing in the Kingdom had continued to grow.
“In our endeavor to achieve the Vision 2030 strategic goals, we have created immense opportunities and an attractive business environment for our strategic partners,” Al-Sati said.
Vision 2030 aims to diversify the Saudi economy away from fossil fuels and increase non-oil revenue, including from foreign investment.
Al-Sati said that in 2020, 44 new licenses were issued for Indian investments and that Saudi Arabia had made investments worth $2.81 billion in areas including renewable energy, agriculture and health.
In the column to mark Saudi Arabia’s National Day on Thursday, Al-Sati praised relations with India.
“Our dynamic cultural, socio-economic, and political partnership is based on mutual respect and shared values and interests and shall continue to thrive for the interests of our two friendly people and the people of the region,” he said.
Al-Sati outlined the progress made by Vision 2030 since it was announced in April 2016 by Crown Prince Mohammad bin Salman.
He said the reforms had helped Saudi Arabia weather COVID-19 and that the Kingdom’s investment environment was returning to pre-pandemic levels.