Report: Saudi Arabia Ranks First in Attracting Foreign Investment among Arab States
Saudi Arabia attracted the highest level of foreign investment in the Arab world in the year 2000, according to a report, cited by the Saudi Press Agency (SPA).
The Economic Saudi Bulletin said in its reports that foreign investment projects in the Kingdom totaled $4.8 billion out of the total investment in the region.
Currently the government is focusing on attracting investment in infrastructure, such as electric power generation, but has yet to make such investments financially attractive, a study by Trade Port organization said.
"Disincentives include a high tax rate on a foreign partner's corporate profits, a government policy of forced hiring of Saudis and the requirement for a foreign investor to have a Saudi partner," the study said - Albawaba.com
© 2001 Al Bawaba (www.albawaba.com)
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