Saudi Arabia General Investment Authority grants licenses to 13 US companies

Saudi Arabia’s General Investment Authority (SAGIA) has granted investment licenses to 13 American companies. (SPA)
Updated 28 March 2018
0

Saudi Arabia General Investment Authority grants licenses to 13 US companies

LONDON: Saudi Arabia’s General Investment Authority (SAGIA) has granted investment licenses to 13 American companies on the sidelines of the Saudi-US CEO Forum. The signing comes as part of Crown Prince Mohammed bin Salman’s official visit to the US. 
The head of SAGIA Ibrahim Al-Omar said that the new licences were granted to the companies in line with Vision 2030 s as part of Saudi Arabia's efforts to encourage the world's leading companies to inject more investment into the Saudi economy and to make the investment environment in the Kingdom more competitive.
Mr Al-Omar added: “The General Authority for Investment is working to adopt best practices and techniques that will facilitate the work of new investors in Saudi Arabia and improve regulatory and procedural environment to attract and enable quality investors, and develop the necessary infrastructure that facilitate business in general and create a suitable environment for investors in an easy and efficient way.”
Saudi Arabia has been issuing more licences to foreign companies in recent years, in sectors as wide-ranging as the service sector, manufacturing, information technology, oil services, environmental, construction, automotive, food services, oil and gas and renewable energy.


King Faisal Prize: Rewarding services to all of humanity

Updated 26 March 2019
0

King Faisal Prize: Rewarding services to all of humanity

RIYADH: Prince Turki Al-Faisal’s father, the late King Faisal, was a beacon of aspiration and hope. 

During his reign, the first girls’ schools were introduced, and he focused on educating the Saudi population as a whole to promote peace. 

The King Faisal Foundation was founded by King Faisal’s sons and daughters to commemorate his memory and vision. 

The significance of the annual King Faisal Prize (KFP) dates back to when a reporter asked him how he saw Saudi Arabia in 50 years’ time. 

The king responded: “I see Saudi Arabia in 50 years’ time as a wellspring of radiance for humanity.” 

The root of the foundation and the prize stems from his vision for all of humanity: Peace through education.

“The prize was established by the King Faisal Foundation soon after the foundation was formed,” Prince Turki told Arab News.

“It carries the message that the welfare of humanity is the primary importance of service to humanity,” he said. 

“The versatility of Islam is celebrating knowledge for all nationalities. As the first verse in the Holy Qur’an was ‘Read,’” Dr. Abdul Aziz Al-Subayyil, secretary-general of KFP, told Arab News. 

“This a universal dialogue between all nationalities and scientific fields, which seeks peace through knowledge.” he said.  

The significance of the Prize shows that: “This is the real Islam and this prize in the country of the Two Holy mosques represents that we are trying to observe the teaching of Islam and its implementation through the prize, which is the encouragement of science and introducing knowledge to people,” Al-Subayyil said.