Saudi Arabia attracted $33.4 billion of the total sum of $89 billion in foreign investment in Arab countries during the past two decades, reported the official Saudi Press Agency (SPA), citing a local newspaper on Tuesday.
Al Watan daily reported that foreign investment in the kingdom was estimated at 37.5 percent of the total volume of foreign investment in Arab countries.
The daily quoted a report on the investment climate in Arab countries for the year 2000, recently issued by the Arab Organization for Guarantee of Investment.
The report hailed Saudi Arabia's investment legislation, particularly the new investment regulations issued in the kingdom.
At present, foreign investment in the Saudi industrial sector is estimated at SR70 billion, most of which is concentrated in the petrochemical industry.
During the past 15 years from 1985 to 2000, the report said, the volume of inter-Arab investment amounted to $15.45 billion, of which the kingdom occupied first place and attracted $5315.8 million (34.47 percent) – Albawaba.com
© 2001 Al Bawaba (www.albawaba.com)
