Saudi private sector specialists expected that the economic openness and the availability of promising opportunities in the Kingdom would attract Saudi investments from abroad with the imminent launch of mega projects within Vision 2030.
Specialists in legal affairs have called for luring Saudi businessmen outside the Kingdom to carry out investments in their home country and avoid billions of financial losses.
Experts stress that while there is no harm in employing funds outside the Kingdom - as long as the safe conditions that guarantee the right of the Saudi investor are available – they underline the importance of encouraging the businessmen to invest in the country through the facilities provided by the Ministry of Investment.
Saudi Arabia’s position as an investment destination has been strengthened by its geographical position. The Kingdom also holds the world’s largest oil reserves and its riyal is one of the most stable currencies.
In remarks to Asharq Al-Awsat, the chairman of the board of directors of the Riyadh Chamber of Commerce, Ajlan Al-Ajlan, said that Saudi Arabia had a free economy and allowed everyone to invest in promising opportunities.
Therefore, the Kingdom is one of the best countries for investment returns, he noted.
He added that 90 percent of Saudi businessmen and national companies invest their money within the Kingdom and in various projects, while the rest are directed to foreign investments.
Meanwhile, the legal advisor to the Secretary-General of the French-Arab Chamber, Dr. Saleh Al-Tayyar, told Asharq Al-Awsat that funds belonging to Saudi businessmen have been frozen abroad due to legal disputes and conflicts with local partners. This has resulted in large financial losses, he said, revealing 27 cases involving businessmen in one country, with a value of $12 billion.
