US investments crossed $55.1 billion in Saudi Arabia
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Mar, 22 2018

US investments crossed $55.1 billion in Saudi Arabia

Temporary licenses have been given for 16 US projects with total investments of SR2 million

US investments crossed $55.1 billion in Saudi Arabia

According to a report of the Saudi Arabian General Investment Authority (SAGIA) ,the total volume of US investments in Saudi Arabia reached over SR207 billion ($55.1 billion) by February.

The industrial activities compensate for the lion’s share of these investments with a total amount of SR193 billion for 95 projects followed by the service sector (SR13.5 billion for 245 projects).

The report also cited by the UAE's state news agency WAM, showed nine commercial activities with a total investment of SR300 million and two real estate projects with a total funding of SR16 million.

The report added that temporary licenses have been given for 16 US projects with total investments of SR2 million.

The report noted, in 2017, 16 new American companies entered the Saudi market with a total investment of SR382 million and out of which 13 licenses were granted in the service sector with a total financing of SR284 million.

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