Saudi Arabia’s Minister of Investment, HE Khalid Al-Falih, said that the Kingdom’s gross domestic product (GDP) has increased by 66 percent since the launch of Saudi Arabia’s Vision 2030.
The comments were made in a speech at a session titled “Energy, Petrochemicals and Conversion Industries Workshop,” held on the sidelines of the Guangzhou Investment Workshop in the Chinese city of Guangzhou on Monday, according to a report in Saudi Gazette.
The minister said that Saudi Arabia is witnessing rapid changes and the Kingdom’s robust growth has been instrumental in transforming it into one among the top 15 world economies, and applauded Chinese involvement in Vision 2030.
“Saudi Arabia’s cooperation with China is evident through pumping of huge investments between the two countries. There are still untapped opportunities in sectors such as specialty chemicals and manufacturing industries, which are valued at a total of more than $700 billion,” he said.
The minister said that Saudi Arabia is directing investments towards clean energy, and supporting it with innovations and technology. “The Kingdom is committed to expanding the use of clean energy by investing in the largest carbon production center in the world and the low-carbon ammonia project for carbon sequestration,” he said.
Al-Falih will attend the China – Saudi Investment Conference in Beijing on Tuesday on the sidelines of his recent visit to China. More than 700 senior officials, CEOs, investors and entrepreneurs are expected to attend the conference, which aims to enhance the strategic partnership between the two countries.
