Riyadh, Saudi Arabia – Saudi Arabia and Swiss Fund have decided to initiate financing initiatives in the debt market in a move towards bolstering investments in zero-emissions projects.
Saudi Minister of Investment, Eng. Khalid Al-Falih, announced the collaboration during a Saudi-Swiss round table meeting in Riyadh on Monday. The strategic partnership is anticipated to mobilize billions of euros, underlining Saudi Arabia’s bid to position itself as a leading global destination for sustainable investment, Saudi Gazette reported.
Al-Falih stressed the Kingdom’s ambition to become a hub for logistics, finance, and industry. The meeting, attended by prominent figures including Swiss Federal Councillor Guy Bernard Parmelin and Saudi Minister of Industry and Mineral Resources Eng. Bandar Alkhorayef, explored various areas of cooperation.
Apart from investments in zero-emissions projects, the collaboration extends to the insurance industry, which is poised for significant growth in the coming years.
Highlighting the immense potential for infrastructure development, Al-Falih outlined Saudi Arabia’s plans for mega projects, with over $3.3 trillion allocated across sectors such as airports, factories, and green energy networks. A substantial portion of this investment, approximately $1.8 trillion, is expected to be financed through bids aimed at attracting global investors from Switzerland and beyond, ensuring the highest quality standards for these ventures.
Al-Falih also underscored the robust economic partnership and longstanding bilateral relations between Saudi Arabia and Switzerland, set to mark a century of cooperation by 2027. Aligned with the Kingdom’s Vision 2030, Saudi Arabia is targeting ambitious investment goals, aiming for a volume of $3.3 trillion by 2030.
Eng. Bandar Alkhorayef highlighted opportunities for future collaboration with Swiss sectors, emphasizing Saudi Arabia’s role as a crucial economic bridge connecting the Middle East and Africa region with neighboring countries. He outlined Saudi Arabia’s strategy to diversify the economy across 12 industrial sectors, categorized into three main groups focusing on national security, maximizing natural resources, and pioneering future industries such as space and renewable energy.