Saudi Arabia - 20 boxes in the Bold investment initiative
Saturday, 05 04 2019, Category: Economy, Country: Saudi Arabia
On the sidelines of the first session of the financial Sector Conference, the General Investment Authority announced today the launch of the aggressive investment initiative from "Invest in Saudi Arabia", which aims to facilitate the entry of the aggressive capital funds and their emerging companies to the Saudi market, which will contribute to increase the number of companies Emerging in the domestic market and helps motivate venture capitalists to invest in startups, in the presence of a number of ministers, representatives of international and regional organizations, financial sector professionals, and the participation of important international personalities.
The agency's agent for attracting and developing investment Sultan Mufti revealed that more than 20 bold local and foreign capital Fund has so far participated in the bold investment initiative from invest in Saudi Arabia, pointing out that the investment Authority aims through this initiative to attract the best emerging technical companies in the region and the world For investment and growth in the Saudi market, which will enable the aggressive capital funds to support their portfolio through the immediate entrepreneurial license, which allows entrepreneurs to obtain immediate investment licenses in a period not exceeding three hours.
He said that the pioneer license allows the Saudis to establish a partnership with the foreign entrepreneur, and since the launch of the service, the authority has licensed 142 entrepreneurial licenses from 42 countries around the world, focusing on specific sectors such as financial technology, gas and electricity industry, information technology, education, And transport and storage in accordance with the vision of the Kingdom 2030, to make the kingdom the best platform for entrepreneurs in the Middle East region.
The participation of the General Investment Authority in the Conference as one of the most important government entities related to the field of the financial sector, to review the investment opportunities of the bold capital funds, stimulate competition and raise the attractiveness of the daring capital sector in the kingdom, and support efforts in the development of the sector The future plans, in line with its strategy and the financial Sector Development program and its initiatives and programs, are one of the 13 strategic vision programs.
In a related context, investment licenses were delivered to the aggressive foreign capital funds participating in the initiative, which included the participation of investors of bold capital investment funds from Saudi Arabia, the United States of America, China, Britain, Singapore, Kuwait and a number of countries The other.
It is noteworthy that the General Investment Authority has completed many economic reforms and measures that led to a significant increase in the volume of investments in the kingdom, where foreign direct investment grew by 127% in 2018, where the kingdom today witnessing an unprecedented quantum leap And a strong growth in the volume of foreign investment in it.