Saudi Arabia’s General Investment Authority (SAGIA) has granted investment licenses to 13 American companies on the sidelines of the Saudi-US CEO Forum. The signing comes as part of Crown Prince Mohammed bin Salman’s official visit to the US.
The head of SAGIA Ibrahim al-Omar said that the new licenses were granted to the companies in line with Saudi Vision 2030 s as part of Saudi Arabia's efforts to encourage the world's leading companies to inject more investment into the Saudi economy and to make the investment environment in the Kingdom more competitive.
Omar added: “The General Authority for Investment is working to adopt best practices and techniques that will facilitate the work of new investors in Saudi Arabia and improve regulatory and procedural environment to attract and enable quality investors, and develop the necessary infrastructure that facilitate business in general and create a suitable environment for investors in an easy and efficient way.”
Saudi Arabia has been issuing more licenses to foreign companies, in sectors as wide-ranging as the service sector, manufacturing, information technology, oil services, environmental, construction, automotive, food services, oil and gas and renewable energy.
