October 26, 2022
Saudi Arabia, seen by IMF as one of the fastest-growing economies this year, has signed a slew of investment deals across sectors, including in aerospace, as it looks to build up its position in global value chains. The agreements were signed by the Saudi Ministry of Investment on Tuesday on the sidelines of the Future Investment Initiative (FII) in Riyadh, a ministry statement said. In the aerospace sector, where the kingdom plans to achieve 50% localisation by 2030, it signed an agreement with Boeing and local advanced metals manufacturer Tasnee. In addition, it signed another deal with US space training company Orbite to develop investment opportunities in space tourism and entertainment.
Read the original article in Zawya: FII update: Saudi signs investment deals to build its position in global value chains