Prince Abdullah bin Faisal bin Turki,
the Governor of the General Investment Commission, has disclosed
foreign investment in the Kingdom this year reached SR5.2 billion.
Addressing a press conference
yesterday, on the sidelines of the international giant projects
conference now in progress in Jubail, Prince Abdullah bin Faisal said
demand for investments in petrochemicals is very great, stressing that
the two industrial cities of Jubail and Yanbu have no parallel in the
In this context, he said the center
of overall services in Riyadh had announced that demand for obtaining
licenses is 40 times higher this year compared with last year.
“Moreover, there is an intention to
establish a number of overall service centers in the regions and
chambers of commerce that will take benefit from local expertise. The
two industrial cities of Jubail and Yanbu had been the first to open
the center of overall services,” he noted.
Prince Abdullah bin Faisal stressed
that the Saudi market is attractive to foreign investors because of
its many advantages, notably security, stability, strong economic
structure and important political and geographic position.
He said the Commission is studying a
number of topics that would contribute to ensuring the success of the
investment process in the Kingdom and providing all data requested by
the investors. Prince Abdullah bin Faisal also referred to the efforts
being exerted by the Commission in the interest of the investors,
noting that a number of studies would be implemented next year for the
development and improvement of many current regulations.