Saudi Minister Unveils $13.3 Billion Investment Opportunities for Tabuk Region

KSA, 30 July, 2024 : Minister of Investment Khalid Al-Falih revealed that the Tabuk region has over SR50 billion ($13.3 billion) in ready investment opportunities, as showcased on the “Invest in Saudi Arabia” platform. He shared this at a meeting organized by the Tabuk Chamber of Commerce with local investors and businessmen on Monday.

Al-Falih emphasized ongoing cooperation with the Tabuk Chamber to explore new investment prospects, especially in renewable energy, agriculture, tourism, and entrepreneurship. He stressed the importance of supporting the private sector to boost investment in the region.

He also highlighted the role of Tabuk Airport in economic activities, noting the need for its expansion to accommodate growing demands.

Challenges identified include high production and land transportation costs, the absence of a railway, and insufficient flight options. Chairman of the Tabuk Chamber of Commerce, Imad Al-Fakhri, proposed several initiatives to address these issues, including organizing an international investment forum, establishing industrial complexes, increasing flight frequency, and improving access to investment data.

Source : www.zawya.com