(MENAFN - Saudi Press Agency)
For his part the Minister of Finance Dr. Ibrahim bin Abdulaziz Al-Assaf said that the growth of the world economy is still less than expectations as the outlook for global growth has slowed since October 2015 across the world pointing out that recent months have seen high volatility of global financial markets which led to restrict funding in the global financial markets especially for emerging markets.
On the occasion the Governor of Saudi Arabian General Investment Authority (SAGIA) Engineer Abdullatif Al-Othman reviewed the Kingdom of Saudi Arabia's strong and hard movement in the development of its economy diversification of its income sources and strengthening the competitiveness shedding light on elements of the Saudi economy and why and how investors have to invest in the Kingdom.
On privileges being provided by the Saudi economy he said that the current time is the optimal circumstance to invest in the Kingdom and this is a message for local and foreign investors alike for the basic elements where the Kingdom is considered as the largest in the region fourth globally as the fastest growing and due to its distinct geographical location in addition to the investment systems and environment and clear vision being adopted by the government in the development of the private sector.
Engineer Al-Othman went on describing the investment system which includes several advantages overlooked by a lot since most areas are available for investment as well as the possibility of the acquisition fully in most activities pointing out that work is currently underway between SAGIA and the Ministry of Commerce to set standards in the retail sector and recommendations will be submitted by the end of this month.
15:46 LOCAL TIME 12:46 GMT