JEDDAH, 16 September — Saudi Arabian General Investment Authority (SAGIA) is planning to set up a one-stop investment window for women in an effort to attract their savings and deposits estimated at more than SR60 billion.
An informed source told Okaz that SAGIA studies on the proposal had made significant progress. “The authority is also studying how to attract migrant funds,” he said.
Dr. Nahid Taher, an economic adviser at National Commercial Bank, said lack of specialized agencies at ministries and other government agencies was the main factor hindering women’s investment in the Kingdom.
“These special agencies are essential for women to complete legal procedures for investment, without depending on legal agents,” she told the Arabic daily. Lack of education in the field is another obstacle, she added.
Abdul Majeed Al-Awadhi, director general of the authority’s office in Jeddah, said new regulations would allow issuance of investment licenses within a maximum of 30 days. SAGIA has so far issued 1,375 licenses including 350 in Jeddah.
He said an e-government system to issue licenses would be introduced shortly, adding that it would allow prospective investors within the Kingdom and abroad to apply through the Internet.
