International
The Hail Province in northern Saudi Arabia has reached the peak of its economic potential
Hail, the northern province of Saudi Arabia, is poised to attract increased investments due to its strategic and logistical significance, as highlighted by the region’s governor
During a reception on July 27 at Aja Palace, attended by Minister of Investment Khalid Al-Falih, Hail Governor Prince Abdulaziz bin Saad emphasized the crucial role of the Ministry of Investment in aligning performance with the nation’s broad growth objectives.
According to the Saudi Press Agency, the country’s National Investment Strategy aims to stimulate economic growth and diversification, working towards several Vision 2030 goals. These goals include increasing the private sector’s contribution to GDP to 65 percent, raising foreign direct investment’s contribution to 5.7 percent of GDP, and boosting non-oil exports’ share of GDP from 16 percent to 50 percent. Other objectives include reducing unemployment to 7 percent and positioning Saudi Arabia among the top 10 economies in the Global Competitiveness Index by 2030.
After the reception, the governor and Al-Falih held a meeting to review the Hail Region Development Authority’s presentation on the region’s comparative advantages, investment prospects, and future opportunities in line with Vision 2030, as well as to address forthcoming challenges.
In a post on X (formerly Twitter), Al-Falih shared that Prince Abdulaziz outlined Hail’s competitive advantages. “We discussed investment opportunities in the region and the ways the Ministry of Investment could support and attract both national and foreign investments to this promising area,” the minister said.
He also mentioned engaging with business leaders and investors at the Chamber of Commerce in Hail to discuss support, development, and stimulation of their investments while tackling various obstacles. “I also visited the industrial city, including the Taldeen Co. factory, which is a distinguished model of manufacturing industries,” he added.
Hail’s abundant agricultural resources, supported by its water availability, suitable soil, and favorable climate, make it a major producer of fruits, vegetables, grains, barley, and livestock. The region is home to nearly 15,000 agricultural holdings, including modern farms and hydroponics facilities. Initiatives are underway to expand food processing capacities and integrate the food value chain.
In addition to its agricultural strengths, the region features two UNESCO World Heritage sites, a rich cultural heritage, and significant archaeological sites.