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SAGIA - $80bn Investments

Saudi Arabian General Investment Authority (SAGIA) is aiming to license investment projects worth more than SR300 billion this year.

The authority will launch two mega economic cities in Tabuk and Eastern Province this year, said a report in Arab News.

Sagia licensed 1,389 joint and foreign projects in 2006 with a total value of SR253 billion, a growth of 25 per cent compared to 2005, said the report quoting from Sagia’s annual report for last year.

It said the agency has opened an office for investors’ services at King Khaled International Airport in Riyadh. It has also opened marketing offices in Britain, Germany, Japan, Hong Kong and Singapore and plans to open five other offices in world capitals to attract investment during the current year

via ameinfo.com

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