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FINANCIAL NEWS
Saudi FDI totals to USD147b
09 Mar 2011
(MENAFN) Governor of the Saudi Arabian General Investment Authority, Amr Aldabbagh, said that the Kingdom was able to secure foreign direct investments (FDI) totaling to USD147 billion, over 38 percent of which were invested in the industrial sector, reported emirates 24/7.
Aldabbagh said that the industrial sector accounted for USD57.1 billion of the Kingdom’s total FDI. He said that the majority of industrial investments focused on oil refining, petrochemicals, basic metals, building materials and plastics.
Aldabbagh reveled that industrial sales totaled to USD60 billion and exports at nearly USD27.7 billion in 2010.
It is worth noting that according to Aldabbagh, the industrial sector was able to generate 145,000 new jobs, 40,000 of which were granted to nationals.
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