Ibrahim Al-Suwail, Deputy Governor of Investors’ Services and Consultancy at the Saudi Arabian General Investment Authority (SAGIA), affirmed that the Kingdom of Saudi Arabia has witnessed a clear growth in the foreign investments’ volume over the past 15 months, compared to 2016, 2017 and 2018.
Upon Al Tamimi & Company’s organization of the very first conference held in KSA yesterday, on Tuesday, April 24, 2018, entitled “Foreign Investment in KSA: The Road to Vision 2030”, in the presence of around 200 prominent figures, including business leaders, economic experts and public and private sectors’ representatives, Al-Suwail said, “We have compared the volume of foreign investments in KSA during 2016, 2017 and 2018, and realized a clear growth witnessed over the last 15 months. These figures include direct investments carried out by foreign companies and regional offices of international institutions, which have launched their businesses in KSA, as well as enhanced partnerships concluded between local and foreign companies. These results reflect the strengths of our national economy, and the important role of Vision 2030 to attract international investors”.
For his part, Engineering Khalid Al Hussan, Chief Executive Officer of the Saudi Stock Exchange (Tadawul), added, “Tadawul has made several developments, which aim at increasing market efficiency and enhancing transparency in line with global best practices. In this respect, we have facilitated the entry of foreign investors into the Saudi financial market, as well as the expansion of their investment base, through the Qualified Foreign Investors program, which was launched back in 2015 in cooperation with SAGIA. Since then, we have sought to improve and develop the Program continuously, especially with respect to alleviating the qualification requirements of foreign investors”.