Saudi Arabia unveils perks to lure investors

Kingdom is offering projects in energy, transport and industry projects worth $500bn
Saudi Arabia unveils perks to lure investors
The incentives are aimed at bolstering business in underdeveloped areas in Saudi Arabia
By Claire Ferris-Lay
Wed 27 Oct 2010 10:50 AM

Saudi Arabia is
offering a series of incentives, including tax exemptions, in a bid to woo
investment projects in underdeveloped areas of the kingdom, the governor of
Saudi Arabian General Investment Authority (SAGIA) has said.

The kingdom is
offering investment opportunities in energy, transport and industry projects
worth $500bn, according to Arab News.

“These
incentives are aimed at increasing investment projects in underdeveloped areas
such as Jazan and the Northern Border Province,” said Amr Al Dabbagh, governor, SAGIA.

“Our
goal is to make Saudi Arabia one of the top ten countries in the world in 2010
in terms of competitive investment climate by providing a healthy investment
condition and establishing a knowledge-based society,” he added.

Saudi
Arabia was ranked the 13th most competitive country in the world in a 2009 World Bank report.

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