Saudi Arabia signs 49 deals to attract new investments

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Saudi Arabia signs 49 deals to attract new investments

In order to diversify its economy away from oil, Saudi Arabia, the largest economy in the Arab world, signed 49 deals worth $925 million to attract new opportunities.

The deals were made across different sectors including advanced manufacturing, construction and real estate, ICT, tourism, entertainment, and sports.

According to the Ministry of Investment, the deals are expected to create 2,000 jobs.

The government of Saudi Arabia established a promotion authority to draw in more regional and foreign investment.

According to flash estimates issued by the Saudi Arabian General Authority for Statistics, the country’s GDP expanded by nearly 12% in the second quarter of this year. BKM/ Expat Media


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