SAGIA targets US$100bn by 2020

Saudi Arabia wants to attract US$100 billion in investment for knowledge-based industries by 2020.

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By  Administrator Published  February 8, 2007

The head of the Kingdom's investment authority told IT Weekly this week the investment was part of a total target of US$500 billion, with 60% coming from energy-intensive industries and the remainder from transportation.

Amr Al-Dabbagh, governor of Saudi Arabia's General Investment Authority (SAGIA), said much of this investment would come through the Kingdom's economic cities - four have already been announced and two more will be launched this year.

Al-Dabbagh said IT was "critical" in helping Saudi Arabia achieve its goals.

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