Foreign

Saudi Arabia grants 348 investment licenses in Q1

Published

on

Saudi Arabia has licensed 348 new foreign investment projects in the first quarter of 2020, according to a report by investment authorities on Thursday.

New foreign investor projects grew by 19 percent year on year to 348 in the first quarter in 2020, which represented the country’s strongest period for inward investment since 2010, while month-to-month growth began to slow down in March due to the impact of COVID-19 on global investment, the Ministry of Investment said in the report.

Saudi Minister of Investment Khalid Al Falih said in the report that the first quarter of 2020 was Saudi Arabia’s strongest period for investor interest in ten years.

The report also revealed a 20 percent quarter-on-quarter increase in foreign investment projects from the final three months of 2019.

The report highlighted the government’s measures to support the business community and the role of investors in dealing with the pandemic’s economic and societal challenges.

Saudi government entities have implemented stimulus packages and COVID-19 funding relief programs worth 45 billion U.S. dollars for the private sector, the report said.

“We are confident that our resilience and commitment to business continuity will keep investors coming to the kingdom as the business community recovers and activity gains momentum in the post-COVID-19 era,” Al Falih added.

(XINHUA)

NNN

NNN: :is a Nigerian online news portal that publishes breaking news in Nigeria, and across the world. Our journalists are honest, fair, accurate, thorough and courageous in gathering, reporting and interpreting news in the best interest of the public, because truth is the cornerstone of journalism and they strive diligently to ascertain the truth in every news report. Contact: editor[at]nnn.com.ng

Latest News

Coronavirus – Zambia: Daily status update (30th November 2020) Coronavirus – Gambia: Daily case update as of 30th November 2020 Coronavirus – Kenya: Distribution of Cases by Counties (30 November 2020) Kwik Delivery and Mastercard Partner to Provide Discounts to Nigerian Cardholders Coronavirus – Ethiopia: COVID-19 reported cases in Ethiopia (30 November 2020) Coronavirus – Africa: COVID-19 Update (30 November 2020) Coronavirus – Nigeria: COVID-19 case update (30 November 2020) Coronavirus – Zimbabwe: COVID-19 Update (30 November 2020) Signing of Line of Financing Agreement (under the Covid-19 Line of Financing (LOF) Support Facility) between the Islamic Corporation for the Development of the Private Sector (ICD) and Coris Bank International – Burkina Faso (CBI – Burkina Faso) African Union Commission (AUC) organizes Executive Leadership Training course on Public Policy, Management & Migration Governance AstraZeneca’s Phakamisa Programme marks 10 years since launch with programme expansion African Businesses and Officials Demand Justice Against Disgraced Spanish Police Commissioner José Villarejo and Diario Rombe Founder Delfin Mocache Massoko FIFA Secretary General Discusses world football disruption, impact of FIFA COVID-19 relief plan and wokeness at World Football Summit Live IX Social App Makes Trading Accessible to Everyone African Development Bank Invests in Pioneering SPARK+ Africa Fund to Deliver Clean Cooking Solutions Commonwealth to observe Ghanaian elections Coronavirus – Sierra Leone: COVID-19 update (29 November 2020) Southern Madagascar faces drought-driven hunger, threatening millions Coronavirus – South Africa: COVID-19 update for South Africa (29 November 2020) Coronavirus – Rwanda: COVID-19 update (29 November 2020) Coronavirus – South Africa: COVID-19 statistics in South Africa (29 November 2020) Coronavirus – Malawi: COVID-19 Daily Information Update (29th November 2020) Tanzania: Burundian Refugees ‘Disappeared,’ Tortured South Sudan: UN arms embargo must be maintained after surge in violence against civilians in 2020 UN condemns ‘brutal and callous’ attack on civilians in north-east Nigeria 25m Nigerians to own 5m solar systems at N4,000 monthly – Presidency AIDS: Treatment of 1.5m PLHIV key to sustaining control of HIV annually – NACA Gbajabiamila condemns killing of Borno rice farmers I didn’t defect to APC over presidential ambition- Umahi No rising of COVID-19 cases in orientation camps Group honours NYSC D-G, others for distinguished service COVID-19: Antibiotics misuse can accelerate antimicrobial resistance – experts NiMet predicts sunshine, cloudiness, Monday to Wednesday 25m Nigerians to own 5m solar systems at N4,000 monthly–Presidency Stakeholders frown at border re-opening for Dangote, BUA coys FG to roll out Autogas programme Dec. 1 APC will clinch two Bayelsa Senate seats in bye-election says Sylva Nation’s electricity grid collapses- TCN People living with HIV/AIDS seek collaboration to end virus by 2030 Lagos graduates 100 women, youth farmers #EndSARS: Association wants FG, states to compensate affected traders Create more awareness on HIV/AIDS to reduce risk of COVID-19, expert urges Youth NGO decries neglect of HIV/AIDS following COVID-19 outbreak National Qur’anic recitation competition goes underway in Gombe Nigeria Idol 2020/2021 audition begins Nov.29 Enugu State NMA gets new leadership SWAN confirms receipt of N11.4m FIFA COVID-19 funds 43 farmers killed by insurgents buried amid tears, wailing Nigerian Navy Sailing Club loses sailor UNFPA advises public against stigmatising people living with HIV