(MENAFN- Saudi Press Agency) For its part Saudi Arabian General Investment Authority believes that there are a number of promising investment fields between the Kingdom of Saudi Arabia and Russia which are in the energy transportation infrastructure health care and education projects noting that the total Russian investment licenses in the Kingdom of Saudi Arabia amounted to more than 21.2 million US dollars with the manufacturing sector form the vast majority of these investments by more than 15 million and the service sector is less about $ 5 million as Russian joint investments mainly focused on the business activities where the share capital of Saudi 17% and the Russian share more than 60% while the other foreign investors' share was 20%.
The Saudi Arabian General Investment Authority explained that the Russian investment with Russian Capitals 100% in the Kingdom of Saudi Arabia amounted to more than US $ 18 million and investments in the manufacturing industry top this list and worth 15.8 million US dollars and Services investments come in second place and worth US $ 2.5 million.
The Saudi-Russian Business Council which was held yesterday in the headquarters of the Russian Chamber of Commerce has stressed the importance of upgrading the existing trade relations especially in light of the availability of great opportunities to achieve a genuine partnership between the business sectors of the two countries.
The President of the Council of Saudi Chambers Dr. Abdulrahman Al-Zamil during the meeting the day before yesterday pointed to the benefits and incentives of the investment system in the Kingdom to foreign investors either 100% through a foreign capital or through a partnership with Saudi private sector.
-- SPA
13:30 LOCAL TIME 10:30 GMT
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.