Saudi Transport Minister Unveils SAR 1.6 Trillion Investment Over the Next Decade

Eng. Saleh Al-Jasser, Minister of Transport and Logistics Services, underscored Saudi Arabia’s lofty aspirations, robust capabilities, and competitive national workforce during an engaging announcement. He revealed that the Kingdom is poised to embark on an ambitious journey, earmarking a substantial sum of SAR 1.6 trillion in investments over the upcoming decade, to be realized through strategic partnerships with the private sector and various nations.

Addressing attendees at the Saudi-European Investment Forum, Al-Jasser highlighted the pivotal role of these investments in advancing the nation’s goals. He emphasized that Saudi Arabia is well-prepared to transform its transportation infrastructure, fostering economic growth and global connectivity. The endeavors also encompass the development of two critical aviation hubs, responsive solutions to the needs of its citizens, and the establishment of connections to 250 tourist destinations worldwide.

Furthermore, Al-Jasser outlined Saudi Arabia’s commitment to achieving Vision 2030 objectives, which include significantly increasing the number of pilgrims and visitors to more than 30 million annually and welcoming over 100 million tourists each year. The overarching focus remains on enhancing the quality of life for all residents, delivering seamless services, and ensuring a departure from outdated and impractical models.

The Saudi-European Investment Forum serves as a platform for exploring mutually beneficial investment opportunities between Saudi Arabia and European Union countries. The scope of collaboration spans various sectors, with a particular emphasis on transportation and logistics services. The ultimate aim is to promote investments, foster economic relationships and integration, and facilitate the exchange of knowledge between these dynamic regions.