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Saudi SAGIA grants investment licenses for 10 British companies

The Saudi Arabian General Investment Authority (SAGIA) granted on Friday investment licenses for 10 British companies within the framework of the kingdom's move to diversify its economic resources.

The 10 companies include AstraZeneca, Unipart Rail, ARC Middle East, Dudley College of Technology, Mott MacDonald Middle East, Standard & Poor’s Credit Market and MEMF REPL Cable Accessories.

SAGIA Governor Ibrahim Al Omar said the reforms being carried out by the kingdom offer great opportunities for investors to do business in one of the biggest Middle East markets.

The step reflects the authority's keenness on luring foreign and bolstering partnership between the public and private sectors, he said, citing the kingdom's efforts to remove obstacles facing investors.

The announcement was made as the visit of Saudi Crown Prince Mohammed bin Salman to Britain is about to end.

The SAGIA also signed with the British Department of International Trade (DIT) an agreement on cooperative work program for fostering trade and investment ties between the two sides.

Under the program, both sides will exchange trade and investment information for the best interests of British and Saudi companies, promoting trade and industrial partnerships between the two sides and organizing exhibitions.

 


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