Saudi Arabia tells investors Tabuk region needs $13.3bn

By Andrei Skvarsky.

A large-scale development programme launched by Saudi Arabia for its Tabuk region offers investment opportunities estimated at $13.3bn, the country’s investment minister said.

Investment projects for Tabuk run through a range of sectors, including agriculture, renewable energy, petrochemicals, education and biotechnology, Saudi English-language daily Arab News cited Khalid Al-Falih as telling a meeting in Tabuk city.

The region is also planned to become a key tourism destination.

According to the Tabuk Chamber of Commerce and Industry, investing in Tabuk involves some issues, including a lack of railways, limited flight options and high production and transport costs.

At the same meeting, Chamber chairman Imad Al-Fakhri suggested ways of dealing with these issues – calling an international investment forum, marketing investment opportunities, creating a logistics area, providing easier access to data and others.

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