Riyadh – Mubasher: The Saudi Ministry of Investment and King Abdullah Economic City (KAEC) signed a memorandum of understanding (MoU) to boost mutual efforts to attract qualitative investments while marketing investment opportunities and advantages that KAEC provide.
Under the MoU, the two bodies will bolster investments in various sectors in a bid to achieve the goals of the Kingdom’s Vision 2030, Saudi Press Agency (SPA) reported on Sunday.
These include the services sector, which comprises healthcare, public health, education, technology, aviation, tourism, hospitality, sports, entertainment, media, and commercial transactions.
In addition, they include the industry segment, which consists of pharmaceutical industries, consumer goods, renewable energy, light and logistics industries, as well as car manufacturing, and construction materials.
The signing reiterates KAEC's position as a key development project and a leading investment hub on the Red Sea.
KAEC is the gateway to the Red Sea market, the fastest-growing developing market in the world today. It has direct access to King Abdullah Port and the award-winning Industrial Valley manufacturing and logistics hub, according to the city’s website.
