Media ININ Economy We Trust
Media In / Riyadh 21 March 2018
SAGIA indicated that the volume of American investments in the Saudi market until February 2018 amounted to more than 207 billion riyals and the number of investment companies amounted to 373 companies whose activities varied between service, industrial, real estate, scientific, technical and temporary licenses.
It is noteworthy that 16 new American companies entered the Saudi market during 2017 in particular, with a total financing of QR 382 million and 210 thousand riyals. The General Authority for Investment granted it the green light to start its activity in the Kingdom. The service sector took the largest share of these licenses with 13 licenses, While the industrial sector was granted two licenses, the size of investment financing amounted to 97 million and 510 thousand riyals, and finally a single temporary license with a size of 500,000 riyals.
Industrial activity accounted for the largest share of the total funding of 193 billion for 95 projects, followed by service activity with 245 projects with a total financing of SR 13.5 billion, commercial activities with 9 projects with a scope of financing exceeding 300 million riyals, 16 million riyals, and finally the provisional licenses with 16 projects and the size of financing 2 million riyals.
The Saudi market is considered one of the most important US import markets. In 2016, the Kingdom supplied the US market with a number of products such as metal products, chemical and organic products, fertilizers, aluminum and its products, plastics and their derivatives, while the US market exports provided the Saudi market needs for cars and their parts, Medical, optical, photocopying, machinery, machine tools and parts thereof, electrical appliances and parts thereof.
The previous figures confirm that Saudi Arabia has witnessed a wide range of reforms in its investment environment in accordance with its Vision 2030. This is part of the national efforts to strengthen the business and investment movement in the Kingdom. The Executive Committee for Improving Private Sector Performance was established by Taysir, A number of initiatives to participate in economic development, and provide a stable and stimulating environment for the private sector, with the participation of several relevant government agencies, a number of international expertise houses and the private sector under one umbrella to achieve the specific task of empowering the private sector, Attracting a number of foreign investments in general and the US in particular and in sectors promising and targeted through the vision of the Kingdom 2030.
