Saudi Affirms Economic Reforms will Attract Foreign Investments
Saudi Arabia's current economic reforms have generated a good atmosphere for local investments and opened up wider domain to attract foreign investments, reported Saudi Press Agency (SPA) Saturday, quoting Saudi oil ministry official Saleh Hussaini.
Hussaini told the agency that the kingdom is expected to attract direct international investments of SR 21 billion annually in the light of the new foreign investment regulations.
Indicators of the domestic economic performance have shown a big rise in 2000 compared with those of 1999, said SPA.
Hussaini said the number of approved industrial projects increased from 171 to 232 projects for the same period, registering an increase of 75 per cent - Albawaba.com
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