The Kingdom of Saudi Arabia ranked top amongst Arab countries in attracting direct foreign and Arab investments in 2004, said a report issued by the Kuwait-based Arab Organization for Investment Guarantee.
This achievement shows the strength of the Saudi economy.
In a statement to the Saudi Press Agency (SPA), Amr Al-Dabbagh, the Secretary General of the Saudi Arabian General Investment Authority (SAGIA) attributed this success to the sound policy adopted by the Custodian of the Two Holy Mosques King Abdullah bin Abdulaziz to improve the investment environment in the Kingdom.
He highlighted the significant role being played by SAGIA in encouraging investments and improving the investment environment in cooperation with other governmental authorities.
Al-Dabbagh noted that the direct foreign investments in the Kingdom, in 2004, amounted to $3.8 billion. This figure represented 23 percent of the total direct foreign investment in the Kingdom (which was about $16.7 billion).
