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Saudi-British Investments Exceeded $3 Billion in 2017

Saudi-British Investments Exceeded $3 Billion in 2017

Friday, 9 March, 2018 - 09:15

The volume of British investments in Saudi Arabia until February 2018 is estimated at 12.5 billion SAR ($3.3 billion), while the number of British projects has reached 374, extending over the sectors of services, industry, real estate, scientific and technical projects and temporary permits.

 

The services sector accounts for most of these investments with 285 projects with investment volume of around 3.7 billion SAR ($1 billion).

 

In the industrial sector, there are 57 projects with an investment volume worth around 7.9 billion SAR ($2.1 billion), while 19 projects are underway under temporary permits worth 7 million SAR ($1.8 million).

 

There are five main commercial projects with an investment volume amounting to 852 million SAR ($227 million), two real estate projects of 3 million SAR ($800,000), in addition to the licensing of five scientific and technical offices.

 

The Saudi Arabian General Investment Authority granted 22 investment licenses to British companies during 2017 with a total financing value of 11.5 million SAR ($3 million). The majority of these licenses fall within the services sector with a total funding value of 9.4 million SAR ($2.5 million).

 

Saudi Arabia’s relations with the United Kingdom were built on the basis of bilateral cooperation and common interests. The two countries are undergoing a historic transformation aimed at building a better future and a sustainable economy that bolsters comprehensive development.

 

While Saudi Arabia is seeking to diversify the country’s economy and attract more investment through a package of national reforms, initiatives and programs under Vision 2030, the United Kingdom is working on the post-Brexit phase through the expansion and exploration of investment opportunities around the world, mainly promising prospects in Saudi Arabia.

 

Saudi Arabia also aims to increase bilateral trade with the UK, identify key sectors that will be affected by the post-Brexit trade laws and discuss the adoption of a new law on tariffs and trade barriers.


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