Saudi Private Sector Abroad: New Database in the Works

The Saudi government provides all facilitations for expanding national companies abroad (Asharq Al-Awsat)
The Saudi government provides all facilitations for expanding national companies abroad (Asharq Al-Awsat)
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Saudi Private Sector Abroad: New Database in the Works

The Saudi government provides all facilitations for expanding national companies abroad (Asharq Al-Awsat)
The Saudi government provides all facilitations for expanding national companies abroad (Asharq Al-Awsat)

The Saudi Ministry of Investment is currently compiling information on foreign investments by private companies and creating a database for investment data in the Kingdom.

This initiative aims to be a central platform for relevant information.

All Saudi companies are urged to provide data on their foreign investments to support Saudi investors and enhance national investments globally.

The Ministry, responsible for regulating local and foreign investment, encourages private sector participation in shaping future policies and identifying opportunities to strengthen the Kingdom's global economic standing.

The collected data will be used for research and policy-making, guiding the nation's foreign investments for greater success.

The Ministry requests information on the invested country, city, sector, investment value, partnership details, and feedback on foreign investment from the private sector.

The Public Investment Fund (PIF) is actively expanding its investment portfolio locally and globally, aiming for significant financial returns to benefit the Kingdom.

In October 2022, Crown Prince Mohammed bin Salman announced the establishment of five regional companies targeting investments in Jordan, Bahrain, Sudan, Iraq, and Oman.

The Federation of Saudi Chambers of Commerce and Industry is developing Saudi-Foreign Business Councils, increasing their number to 70 and enhancing trade and investment relations with over 124 countries.

Hassan Al-Huwaizi, the Chairman of the Federation of Saudi Chambers of Commerce and Industry, said that this initiative aims to activate the role of these councils in achieving the goals of Saudi Arabia’s national transformation plan, “Vision 2030.”

The expansion project involves quarterly meetings, attracting major companies and investors, increasing the representation of women, entrepreneurs, and small to medium-sized enterprises in council memberships, along with enhancing financial resources and providing technical, logistical, informational, and human support.

It is noteworthy that Saudi Arabia’s Investment Ministry issued over 2,100 investment licenses in Q3 2023, reflecting the Kingdom’s attractiveness for investment with a stable business environment.



Pakistan Set to Receive $20 Billion Loan From World Bank

FILE PHOTO-People wait for their turn to buy low-priced bun-kabab from a shop in Karachi, Pakistan June 10, 2022. REUTERS/Akhtar Soomro
FILE PHOTO-People wait for their turn to buy low-priced bun-kabab from a shop in Karachi, Pakistan June 10, 2022. REUTERS/Akhtar Soomro
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Pakistan Set to Receive $20 Billion Loan From World Bank

FILE PHOTO-People wait for their turn to buy low-priced bun-kabab from a shop in Karachi, Pakistan June 10, 2022. REUTERS/Akhtar Soomro
FILE PHOTO-People wait for their turn to buy low-priced bun-kabab from a shop in Karachi, Pakistan June 10, 2022. REUTERS/Akhtar Soomro

Pakistan is set to receive a loan of $20 billion from the World Bank over the next 10 years, aimed at improving the country’s key sectors, sources told Geo News on Saturday.

According to sources in the Ministry of Economic Affairs, the loan will be part of the World Bank's support under the Country Partnership Framework 2025-35, which focuses on sustainable economic development.

The loan is expected to be approved by the WB's Board of Directors on January 14. Once approved, Martin Raiser, the lender's Vice President, is expected to visit Islamabad to discuss the loan program and its implementation.

In addition to the $20 billion, two subsidiary entities of the World Bank will assist Pakistan in securing another $20 billion in private loans.

This would bring the total financial package to $40 billion, which will be allocated towards infrastructure development, climate resilience projects, and improving social services.

Meanwhile, The News newspaper reported that the government, in its bid to achieve an economic revival, has launched the National Economic Transformation Plan which aims to achieve ambitious economic targets, including doubling GDP growth and halving poverty over a five-year period.

The plan envisages attracting $29 billion anticipated investment under the supervision of the Special Investment Facilitation Council (SIFC) including $10 billion from the UAE, $5 billion from Saudi Arabia, $2 billion from Qatar, $2 billion from Azerbaijan, and $10 billion from Kuwait.

Meanwhile, the gross domestic product (GDP) target has been set at 6% of the GDP till the Fiscal Year 2028-29 whereas the per capita income in dollar terms is projected to go up to $2,405 from $1,680.