Vision 2030 to drive Saudi debt capital market: S&P
DUBAI, 29 days
ago
Saudi Arabia's debt capital market is set to grow and take on a larger role in financing Vision 2030, S&P Global Ratings said in a new report published.
To finance Vision 2030, Saudi Arabia's plan to transform and diversify its economy and grow the private sector, authorities aim to deepen their debt and equity markets to increase foreign direct investment. The strategy also entails investments by the government and its related entities as well as the private sector of about SR12 trillion ($3.2 trillion) by 2030.
"We think banks will continue to play an important role in financing Vision 2030, but foresee an increased role for the local capital market," said S&P Global Ratings credit analyst Timucin Engin in the report titled "Vision 2030 Will Push Forward Saudi Arabia's Debt Capital Market."