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FinancialNews


  • 08-08-22

    Saudi Arabia finalizes 49 investment agreements valued at USD925M in Q2

    (MENAFN) Saudi Arabia signed 49 investment agreement valued at over USD925 million in the April-June period, as shown by an official report from the Ministry of Investment.

    In an announcement, the Ministry of Investment showed that these deals, which are extended through a high range of industries including progressive manufacturing, construction as well as real estate, information and communications technology, tourism, entertainment and sports, is going to offer more than 2,000 employments opportunities in the Saudi economy.

    One of the main agreements reached in the stated quarter was a USD133.3 million deal among the Saudi Ports Authority and DP World to establish a logistics park at Jeddah Islamic Port.

    Additional agreement was valued at USD37 million funding round directed by worldwide economics giant Mastercard into Saudi e-commerce company HyperPay to grow the Nation’s digital payment ecosystem.

    Minister of Investment Khalid Al-Falih stated that “The National Investment Strategy is a catalyst to deliver on our Vision 2030 national objectives of seeing the private sector contribute 65 percent to GDP and growing foreign direct investment to 5.7 percent of GDP.”

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