Riyadh, Asharq Al-Awsat The Kingdom of Saudi Arabia ranked the top among the Arab countries in the field of attracting direct foreign and Arab investments in 2004, said a report issued by Kuwait-based Arab Organization for Investment Guarantee.
This achievement accomplished by the Kingdom stands as a witness for the strength of the Saudi economy.
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 various governmental authorities.
Al-Dabbagh noted that the direct foreign investments in the Kingdom amounted in 2004 to $3.8 billion. This figure represented 23 percent of the total direct foreign investment in the Kingdom, which amounted to about $16.7 billion.