The Infrastructure Of Speed And Resilience

20.12.2022

The Kingdom of Saudi Arabia has set out on the path to rapid transformation in its pursuit to diversify away from an economy which is over-dependent on oil. Driven by the ambitious ‘Saudi Arabia Vision 2030’ and powered in large part by lucrative revenues from high oil prices, the Kingdom has announced a series of mega-projects, development plans and initiatives, which are unparalleled in scale and unprecedented in what they aim to achieve and deliver.

As recently as October, 2022, His Royal Highness Prince Mohammed bin Salman bin Abdulaziz, Crown Prince, Prime Minister and Chairman of the Council for Economic and Development Affairs, announced the launch of the Global Supply Chain Resilience Initiative (GSCRI). Under the GSCRI, ‘SAR 10 Billion (USD 2.7 Billion) has been earmarked to support several initiatives, including financial and non-financial support for global investors interested in incorporating Saudi Arabia in their supply chains. The initiative will support growth in key sectors and is expected to attract investments of SAR 40 Billion (USD 10.7 Billion) within the first two years of being launched.