30/5/2005

Riyadh – US firms have invested up to eight billion dollars through 197 joint ventures in Saudi Arabia between 2000 and 2004, according to a report released by the Saudi Arabian General Investment Authority (SAGIA).

&#34The volume of US direct investments in the kingdom reached around 30bn riyals ($8bn) by the end of 2004,&#34 according to the survey conducted by SAGIA.

The report also stated that the figure represented the share of US firms in 197 projects licensed under the foreign investment law passed in April 2000.