Al-Falih expects investments of up to $600B in petchem sector by 2030

Saudi Arabia's Minister of Investment, Khalid Al-Falih, expected that investments in the petrochemical sector would total $600 billion by 2030.

In his speech at the Saudi-Japan Investment Forum, Al-Falih stated that the strategic partnership between Saudi Arabia and Japan has reached an important stage, indicating that the Kingdom is targeting a massive amount of investments worth more than SAR 12 trillion in the remaining stages of its vision journey.

He explained that this comes in pursuit of achieving the goals of the ambitious vision, which included all sectors, some of which were not available previously, stressing that several investment opportunities will come into sight in the near future.

Al-Falih also anticipated that the Saudi capital market will expand with potential opportunities worth SAR 1.7 trillion, which will help create opportunities in the Kingdom for the Japanese financial sector.

Saudi Arabia will continue its joint investments with Japan in the hydrocarbon sector, looking forward to developing joint businesses in the new energy future, the minister added.

In addition, 14 agreements or memoranda of understanding (MoUs) will be announced between Saudi and Japanese entities and companies in sectors such as water, communications and information technology, energy, financial services, healthcare, according to the minister.