Saudi: Foreigners Allowed To Invest In More Sectors

Saudi Arabia decided to allow foreign investors to invest in several new sectors, including recruitment offices, audiovisual services, land transport, and real-estate brokerages.

The Cabinet amended in its weekly meeting on Tuesday what it described as a list of types of activity that had been previously excluded from foreign investment.

This vital decision reflects the growing inflow of foreign investments into the Saudi market.

This inflow in various fields is an important indicator of the extent to which foreign investors are keen to boost their investments in the local market, which has led the Kingdom to open for them more sectors.

The Kingdom is one of the world’s most attractive countries for foreign investment nowadays while it also represents an important factor in the global economy.

The Saudi Arabian General Investment Authority’s (SAGIA) report for the Q3 of 2018 showed an increase in the number of licenses granted to foreign and local companies investing in Saudi Arabia by more than 90% compared with the same period in 2017.

SAGIA has granted 499 licenses until the end of the third quarter of this year.

 

Source Credit: Aawsat