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FINANCIAL NEWS
100 percent of foreign investments to be allowed in KSA
31 Jan 2016
(MENAFN) Offers to permit 100 percent foreign direct investment (FDI) in four sectors in Saudi Arabia, to support and diversify the productive base and confront oil prices.
Accordingly, the Saudi Arabian General Investment Authority (SAGIA) will take the decision, which welcomed the recommendations on foreign investment.
Moreover, KSA aims to cut the restrictions on foreign investments to reverse its fall that went down by USD 7.6bn last year; which was USD 30bn seven years ago.
In addition, the Kingdom provides reasons to foreign investors, involving cut in direct taxation to 20 percent on incomes with relaying losses to future years.
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