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FINANCIAL NEWS
Saudi, Australia invest in 14 projects in the Kingdom
15 Sep 2014
(MENAFN) Saudi Arabia and Australia are currently jointly investing in 14 industrial projects in the Kingdom, with Saudi investors owning 74 percent of shares in the projects while 20 percent of shares go to the Australian investors, Arab News reported.
Saudi investors also acquire 58.6 percent of 25 joint commercial projects while 41.1 percent of shares are owned by their Australian counterpart.
This increase in joint projects between the two countries is supported by the Australian Trade Commission (ATC), which plans to launch a program in Riyadh aimed to boost bilateral relations between the two countries at commercial, investment and cultural levels.
The Kingdom is currently considered to be the second largest trade partner with Australia in the Middle East and North Africa (MENA) region, as well as being the biggest importer of cars manufactured in Australia,
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