Othman stressed that the authority has made in the past period, a comprehensive review of the extent of contribution of foreign facilities licensed by SAGIA in the Saudi economy, and the formation of a technical committee to decide on the license applications, and the development of mechanism and criteria for the issuance of investment licenses, to accelerate and facilitate the granting, renewal and modifying licenses through a distinctive path for outstanding projects and at the same time addressing the licenses in violation of the regulations and the reduction of low-level investments, while maintaining the Kingdom's obligations in the Arab and international agreements. Moreover, SAGIA Governor welcomed investments by leading companies, especially from sisterly Arab countries which are contributing to the transferring of technology and the promotion of innovation, as well as job creation with the training and rehabilitation of male and female citizens of the nation to get benefit from them in the diversification of the national economy. He considered that the participants agree that the inter-Arab investments are less than expected and that would require from everyone to exert concerted efforts, and integral comprehensive procedures to strengthen the private sector in each country, activate the modified agreement on movement of capital among Arab states which was approved in Riyadh Summit 2013, which will enter into force soon after being ratified by the Kingdom of Saudi Arabia; Sultanate of Oman; the State of Palestine; the Hashemite Kingdom of Jordan and Kuwait. --More 13:57 LOCAL TIME 10:57 GMT تغريد
