Saudi Arabia this week launched its National Industrial Development and Logistics Program (NIDLP), a flagship element of Crown Prince Muhammad bin Salman’s Vision 2030 strategy to wean the economy away from oil.
The program aims to secure $450bn in investments by 2030 in four key sectors: industry, mining, energy and logistics. Upon its 28 January launch, Riyadh lauded the signing of 66 deals worth $54bn. A big sum. But details were sparse: as with the October’s Future Investment Initiative (FII) many were essentially re-packaged pre-existing deals. (CONTINUED - 1010 WORDS)