Riyadh – Mubasher: Nestlé, a Swiss multinational food and beverage company, plans to pump SAR 7 billion into Saudi Arabia over the coming 10 years, the Ministry of Investment of Saudi Arabia (MISA) announced.
The Swiss firm will inject an initial investment of SAR 375 million.
The ministry signed a memorandum of understanding (MoU) with Nestlé to establish a manufacturing site in the food sector.
Meanwhile, the two entities will team up to set up a research and development programme in the Kingdom, in addition to establishing Nestlé’s first business incubator in the MENA region and uplift programme for Saudi talent.
The partnership comes in line with the Saudi Vision 2030 to boost food security, reinforce local businesses, and create job opportunities.
