Saudi Arabia has issued licenses for 189 international and domestic investment projects worth SR24 billion ($6.4 billion) in the first quarter of this year, Amr Al-Dabbagh, the governor of Saudi Arabian General Investment Authority (SAGIA) said. He said the figure was 828 percent higher than the investments secured by the country during the same period last year. Some of the new projects are vital joint ventures with international companies, he said in a press statement. Al-Dabbagh said SAGIA was making strenuous efforts for the implementation of licensed projects within 30 days. "We have also started issuing licenses through the Internet to reduce the licensing time from 30 to three days," he said. SAGIA has developed a large database on Saudi laws and regulations, in association with several consultancy offices, he said and described it the largest database in the Kingdom. --MORE 1035 Local Time 0735 GMT
