An increase in direct investment flows in the KSA by 20% last year The Eastern Province of Saudi Arabia is activating its investment opportunities and tremendous capabilities. The Governor of the Eastern Province, Prince Saud bin Nayef bin Abdulaziz launched the “Asharqia Chamber Digital Portal” in his office in the emirate, with the aim of providing investment opportunities to local and foreign investors.
The portal will be an innovative tool to empower investors to access investment opportunities in the Eastern Province.
It also aims to connect international companies and small and medium-sized companies and create opportunities for local suppliers.
The Governor of the Eastern Province said: “The kingdom is full of huge investment opportunities, attracting investors from within and outside the kingdom.
The kingdom’s legislation has become an auxiliary tool for investment and has provided a fertile environment for its success.”
He added: “Surely, the eastern region is one of the most important regions to attract capital, because it has several potentials that have made it an important energy region in the world, in addition to its unique geographical location that links the Kingdom with several countries.
It also has human potentials specialized over the age of the region in very important industries. Undoubtedly, we appreciate the use of modern technology to highlight the opportunities available in the region, such as the portal that we are launching today, which aims to link local and international capital to the unique investment opportunities offered by the region.”
Abdul Hakim AlAmmar AlKhalidi, Chairman of the Board of Asharqia Chamber, emphasized at the meeting, “Foreign investment is a key pillar of the Kingdom’s vision for 2030, which has successfully formed multiple business opportunities and enhanced the Kingdom’s strategic assets.
It has also encouraged the national economy to grow and diversify.
This has had a positive impact on the growth of Saudi foreign direct investment, despite its global decline due to the impact of the pandemic.”
AlKhalidi pointed out, “The Chamber of Commerce established a new Foreign Investment Committee within its special committees at the end of 2019.
Today it launched a foreign investment portal to provide investment opportunities and propose suggestions and ideas for realizing diversified aspirations and increasing the growth of foreign investment flows to the Kingdom in general and the eastern region in particular.
Saadoun AlKhalidi, Member of the Board of Directors of the Asharqia Chamber of Commerce and Chairman of the Foreign Investment Committee, said: “Although the global economy has witnessed the pandemic and has witnessed a sharp drop in investment flows, the proportion direct investment of the Kingdom flows will increase to 20% in 2020, more or less, while China only reached 5.7%. This confirms that the Kingdom of Saudi Arabia will have a broader vision to increase direct investment flows after the pandemic, especially considering its capabilities and the unique facilities and opportunities it offers to attract investors.