Saudi Arabia: FDI, Investments, Doing Business and Economy by SEDCO

Anees Ahmed Moumina, CEO of SEDCO Holding talks about foreign direct investments and doing business in Saudi Arabia.

He says, “There is a new administration body in SAGIA. Right now, SAGIA is working towards attracting large ticket-item investments. Previously, you had a lot of smaller ticket-sized investments or foreign companies coming in. There are a large number of small investments. So, it was not making a dent in the economy. Right now, there are a few but large ticket items coming in, but investing. So, you might hear a lot of complaints saying that SAGIA is imposing restrictions on the smaller companies, because they want to divert smaller companies into larger companies.

The key in SAGIA and FDI is they always look at the number of new licenses issued. It is nice to look at the number of new licenses issued with the new FDI. This is not of the existing businesses in Saudi Arabia that basically convert from 100% Saudi to foreign investors, but those that were already invested in Saudi Arabia.”

Full Interview: Increasing Investments in Saudi Arabia