Saudi Investment Marketing Authority
Saudi Arabia, in a strategic move to bolster investment in the country, has approved the creation of Saudi Investment Marketing Authority. The crucial decision announced after a Cabinet meeting chaired by Crown Prince Mohammed bin Salman, is a significant milestone to achieve the strategic objectives of the Authority and enhance the Kingdom’s position as a distinguished destination for attracting and stimulating investment. The Investment Minister Khalid Al- Falih, described it as a crucial decision demonstrating the Saudi leadership’s support to strengthen the investment ecosystem in the Kingdom.
Highlighted Points
He highlighted that the establishment of the Authority would enable the country to diversify its economy, enhance global competitiveness, and foster a sustainable economic environment in line with the goals of the ambitious Vision 2030 of the country.
The authority will be responsible for promoting investment opportunities both within Saudi Arabia and globally. The authority will emphasise the Kingdom’s competitive advantages and the incentives available to investors.
Additional points mentioned
The minister pointed out that the authority would leverage modern technologies and advanced investment marketing strategies, incorporating deep market analysis, international partnerships and digital platforms to attract foreign investors. Currently, the country offers 100% foreign ownership of businesses within Saudi Arabia.
Benefits the New Saudi Investment Marketing Authority Offers
The new Authority will promote Saudi Arabia as a premier investment hub, capitalizing on its strategic location, business friendly relations and world class infrastructure. According to the Minister, new authority would be instrumental in boosting foreign direct investment Saudi Arabia, enhancing local investment opportunities and supporting Saudi investors.
The minister also added that the new authority would contribute significantly to economic growth, job creation, innovation and knowledge transfer further improving the kingdom’s presence as a leading global investment destination.
Kingdom’s Overall Rank Globally
The Kingdom is currently ranked as the second fastest growing G20 economy in terms of FDI inflow, and fourth globally in total foreign investment growth, a 13 percent increase with a huge amount of 900 billion Saudi riyals invested. The country keeps its business options open to foreign investors who have contributed more than 350 billion Saudi riyals to Saudi financial markets.
The number of foreign investors keeps on growing, though 500 foreign companies have been established in the regional headquarters of the country.
Role of Professional Agencies for business setups in KSA
The move to establish the Saudi Investment Marketing Authority will leapfrog the foreign investment into Saudi Arabia with its favorable investment ecosystem. The professional agencies like Helpline Group in Saudi Arabia will be in a position to advise the foreign investors to capitalize on the favorable investment opportunities in the Kingdom. Many foreign investors stand to benefit by expanding their business setups in Saudi Arabia in compliance with the latest investment rules and regulations of the country.
Helpline Group’s contribution in the Kingdom
Helpline Group backed by a professional team of 300+ experts, with 25+ years of experience in company formation and business setups in countries like Saudi Arabia, Kuwait, Qatar and Bahrain is in a position to assist the prospective investors in setting up their businesses expeditiously and hassle free.
Well versed in rules and regulations of the Kingdom in regard to the establishment of businesses in the country, Helpline Group will guide the investors to leverage the favorable business climate in the country to start their businesses in the country.
