RIYADH — The Saudi Ministry of Investment has begun taking an inventory of private sector companies’ direct investments abroad. “This is aimed at contributing to provide services and incentives to support Saudi investors and companies in their efforts to expand globally especially in concluding bilateral investment agreements,” said Minister of Investment Khalid Al-Falih.

He said that the ministry is the competent authority and the main reference in the Kingdom with regard to regulating and developing domestic and foreign investment, promoting its components, encouraging it, and protecting investors. “The ministry has the right - without prejudice to the competencies and responsibilities of other bodies - to do whatever is necessary in order to achieve its objectives, including establishing a database of investment and its indicators in the Kingdom to be the unified platform and main reference for information related to the ministry’s competencies, and coordinating with the relevant authorities to provide them with relevant information, data and reports with the aim of providing the necessary support to investors,” he said.

Al-Falih noted that the ministry confirmed that with the participation of private sector companies in the survey, they will play an essential role in shaping future policies, discovering opportunities, and strengthening the position of Saudi Arabia as a global economic power.

It is noteworthy that the ministry has a prepared a questionnaire to record private sector companies’ direct investments abroad. The questions in this include the name of the company, the beginning of the year of investment, the name of the country in which the investment is made, the city in which the investment is made, the name of the sector, the value of the investment (in US dollars), the percentage of partnership/ownership, and notes about foreign investment.

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