RIYADH: Saudi Arabia’s infrastructure sector is presenting huge investment opportunities for private sector players, with the National Development Fund playing a key role in mobilizing financing, a senior official said.
Speaking during a panel discussion at the PIF Private Sector Forum on Feb. 10, Stephen Groff, governor of the National Development Fund, said foreign investors entering the Kingdom can expect strong returns in the coming years.
Groff’s remarks align with Saudi Arabia’s broader push to attract long-term foreign capital under its Vision 2030 strategy, which aims to diversify the economy beyond oil revenues. As part of this economic transformation program, the Kingdom is targeting $100 billion in annual foreign direct investment by 2030.
“We established the infrastructure fund very much with an eye toward helping and structure projects to make them more attractive to the private sector. The benefit of having the private sector involved in these infrastructure projects is that it increases the speed at which those can be undertaken and completed. It tends to typically reduce the cost and increase the quality,” said Groff.
He added: “We really think that there is a huge opportunity for private sectors to invest in the infrastructure sector in the Kingdom.”
