JEDDAH, 28 July 2005 — The Saudi Arabian General Investment Authority (SAGIA) published its second quarter results for investments in the Kingdom reflecting a 4596 percent increase in licensed investments’ value, a 46-fold increase compared to the same period last year. The total amount invested during the first half of 2005 reached SR65 billion, an increase of 1,670 percent from last year’s mid-year investments. Since SAGIA began operating in 2000, 50 percent of the licensed investments have been implemented, said SAGIA’s Governor Amr Al-Dabbagh. He assured that SAGIA had founded the mechanisms to follow up on implementing the projects and for removing any obstacles they might face so that 80 percent of the licensed investments would be achieved during the next two years.