German investments in KSA total $300 billion.

[zek]

Les autorités du pays ont annoncé que l'économie saoudienne a attiré plus de $300 milliards d'IDE allemands ces derniéres année.

German investments in KSA total $300b

The Saudi Arabian General Investment Authority announced that the Saudi Arabian economy has attracted more than $300 billion worth of investment from German investors in the past few years, Khaleej Times reported.

Earlier, four German companies had submitted their proposals to Saudi authorities to win bids on several of the Kingdom's planned railway projects, the German Federal Minister of Economics and Technology said.

The minister, who visited Saudi Arabia accompanied by a large delegation of businessmen, said that Saudi Arabia remains the most important market in the region, especially with the government's efforts to attract international investments and facilitate regulatory measures for foreign businessmen.

06/06/2007
source MENAFN

[zek]

Saudi Arabia targets $80b JV investments

L'Arabie Saoudite compte attirer 80 milliards de dollars d'IDE pour l'année 2007.

-----------------------------------------------------------------------

Saudi Arabia targets to attract joint venture investments worth $80 billion this year, according to Commerce and Industry Minister Hashim Yamani.

Addressing the Saudi-UAE Economic Forum in Riyadh on Sunday, Yamani said that until last year, the Kingdom had licensed 1,389 foreign and joint venture projects with a capital investment of US$67.46b.

Abdul Rahman Al Rashid, chairman of the Saudi Council of Chambers of Commerce and Industry, said that foreign investments in the Kingdom rose by 120 per cent during the past three years.

He said that there was a remarkable increase in joint investment projects between Saudi Arabia and the UAE during the past five years. "Joint investment projects in the Kingdom until the first quarter of this year are valued at US$41.17b with the UAE investments amounting to 20.7 per cent," he added.

Saudi Arabia is the fourth largest market for UAE products. The Kingdom is the ninth largest exporter to the UAE, and occupies fifth place among the countries that receive re-exports from the UAE.

UAE Minister of Economy Shaikha Lubna Al Qasimi said that Saudi investments in the Emirate amounted to $9.33b last year, and nearly 2,366 Saudi companies and 66 trade agencies have been registered with the UAE Ministry of Economy.

"The oil service complex in Abu Dhabi and the industrial centre for oil and gas to be established in Dubai will be a major attraction for oil industries in the world," she said, and added that there were also vast opportunities in both countries, especially in industry, tourism, real estate, education, health and services sectors.

Highlighting the economic progress achieved by the UAE, Salah Salem Al-Shamsi, chairman of the Federation of th UAE Chambers of Commerce and Industry, said that the Emirate achieved a growth rate of 23.4 percent last year with non-oil sectors contributing 63 percent of the country's gross domestic product.

BY HABIB SHAIKH
15 May 2007. Khaleej Times