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  • Investment In Saudi Arabia Increases

  • December 4, 2006
  • Yasmin Ali

    The Saudi Arabian General Investment Authority (SAGIA) is a government agency within the kingdom that issues investment licenses to foreign investors.  In the second quarter of 2006, SAGIA issued $19.2 billion worth of investment licenses. 

    This is an astonishing 107% increase from the second quarter of 2005.  SAGIA has said that this positive increase is due to several factors.

    Primarily, the government of Saudi Arabia has improved the hospitability of the business environment to foreigners.  It has allowed for easier paths for investment. 

    Additionally, the global community, including that of the Saudi Arabian people, expresses an increase in confidence in the kingdom’s economy.  This may be due to the boom that the Gulf region of the world has been experiencing thanks to soaring oil prices.

    Lastly, investment has increased due to the major step of Saudi Arabia becoming a member of the World Trade Organization (WTO) as of December 11, 2005.  This has also increased the confidence in the reliability of the Saudi economy.

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