Saudi Arabia announces ‘record year’ for foreign investments in 2019
Saudi Arabia said it had a ‘record year’ for investments in 2019 with a 54% increase in international companies setting up operations in the Kingdom and a 10% increase in foreign direct investments for the Jan-Sep period.
The Saudi Arabian General Investment Authority (SAGIA) said in a report released on Sunday (Jan 19), that 1,131 new international companies set up operations in the country in 2019 compared to 736 in 2018.
“In terms of international companies established, the final quarter of 2019 proved to be the busiest period of the year, with the number of new international companies increasing to 305 from 238 during the same quarter in 2018,” said the authority in a statement.
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