Foreign investments in Saudi Arabia grow 24% in Q1 2019: SAGIA

The inflows of foreign investments in Saudi Arabia in Q1 2019 have grown 24 percent compared to the same period 2018, according to deputy governor for investor services and consultations at Saudi Arabian General Investment Authority (SAGIA), Ibrahim bin Saleh Al-Suwail.

“The ownership of these investments varies from 100 percent to partnership with local businessmen and companies,” Al-Suwail told Alarabiya TV on the sidelines of handing six investment licenses to companies from various parts of the world.

According to the data compiled by Argaam, 267 licenses were granted to foreign investors during the first half 2019, a 70 percent increase compared to the same period 2018.