October 25, 2018 / 9:30 AM / 19 days ago

Saudi hopes to attract $427 billion in investments by 2030

Saudi Energy Minister Khalid al-Falih attends the investment conference in Riyadh, Saudi Arabia October 23, 2018. REUTERS/Faisal Al Nasser

DUBAI (Reuters) - Saudi Arabia expects to attract investments of more than 1.6 trillion riyals ($427 billion) by 2030 in its push to boost industry, Energy Minister Khalid Al-Falih said on Thursday, according to state TV al-Ekhbariya.

“The programme to develop national industries and logistics services (is) the largest and most important, and has a huge impact on the Saudi economy,” Al-Falih said.

The minister estimated that the country’s mineral wealth was worth more than 1.3 trillion riyals.

($1 = 3.7506 riyals)

Reporting by Ali Abdelaty, Writing by Tuqa Khalid, Editing by Robin Pomeroy

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