Saudi industry capable of absorbing $7.2 billion foreign investment
Saudi Arabia holds a 1 percent share of the overall worldwide investment, and is capable of absorbing up to $7.2 billion direct foreign investments annually, said Saleh Al-Husseiny, the Saudi undersecretary of industry and electricity, quoted in Al-Jazirah newspaper.
Al-Husseiny estimated that the overall worldwide investment in 1998 amounted to $726 billion. Approximately 57 percent of the total investment projects in Saudi Arabia are joint projects.
On August 15 Al-Hayat reported the governor of the Saudi public investment authority, Emir Abdullah Bin Faisal Bin Turki, as saying that working permits had been granted for a number of new investment projects of which four were foreign projects, based entirely on foreign capital. –(Albawaba-MEBG)
- Saudi Economy Poised to Absorb More Foreign Investment
- Saudi can attract an annually $20 billion in foreign investments per annum: Bin Turki
- Foreign direct investment inflows into the GCC region declined by 15% to USD 50.8 billion in 2009
- Saudi Foreign Investment $7.6 billion
- GCC’s aluminium investments reach around USD 30 billion