Saudi’s General Investment Authority grants 4 French companies investment licenses

DUBAI: The Saudi General Investment Authority (SAGIA) granted four French companies investment licenses to conduct business in the Kingdom on Wednesday, Saudi state-news agency SPA reported.
The deal occurred on the sidelines of the Saudi-French CEOs Forum that coincides with Prince Mohammed bin Salman’s visit to France.
SAGIA’s Governor Ibrahim Al-Omar said the licenses were given to the companies to operate in the fields of services, environment, technology and transportation, stressing that the Kingdom is seeking to encourage international companies to invest more in accordance with Vision 2030 and promote competitiveness in the Kingdom to attract more foreign investments.
Al-Omar confirmed that SAGIA is working on establishing better practices and techniques that can facilitate the work for investors in the Kingdom, improve the regulatory and procedural environment to encourage quality investment, develop the infrastructure to facilitate the work and find an appealing environment for investors to allow a better and easier workflow.
Within its strategic policy, SAGIA seeks to attract high-value investments that contribute to improve the national economy.