The Governor of Saudi Arabian General Investment Authority (SAGIA) Engineer Ibrahim bin Abdulrahman Al-Omar handed here today investment licenses to four Chinese companies as part the visit being paid by the Vice Premier of the State Council of People's Republic of China Zhang Gaoli to the Kingdom with Chinese representatives of ministries and businessmen. The visit reflects the depth of relations between the two countries in various economic, industrial and investment sectors, where the People's Republic of China is the first country among the countries licensed to invest by the Investment Authority in the Kingdom during this year with a share of SR 254 million. Engineer Al-Omar said that the Authority seeks to achieve economic diversification, attract more foreign investments to the Kingdom and strengthen the partnership between public and private sectors, noting that the granting of investment licenses to four Chinese companies with a capital of more than SR 190 million reflects the efforts exerted by the Authority in cooperation with the relevant government agencies to develop the mechanism of getting licenses in easier and smoother way in order to improve the investment environment and facilitate the practice of business in the Kingdom.
