Saudi economy ‘among top 15’

Saudi economy ‘among top 15’
Updated 11 March 2014

Saudi economy ‘among top 15’

Saudi economy ‘among top 15’

Saudi Arabia holds 15th position among the world’s leading economies in creditworthiness, said a survey conducted by S&P Capital IQ.
The Kingdom has maintained its 14th position among low-risk credit markets on a list of 76 countries published by the international ratings agency.
Saudi economists said the Kingdom’s strong position would help attract more foreign investors.
“Being the most low-risk market in the world, many investors will be interested to put their money in Saudi Arabia,” said one economist.
Abdullatif Al-Othman, governor of the Saudi Arabian General Investment Authority (SAGIA), emphasized his organization’s efforts in making the Kingdom an investment-friendly country. “Saudi Arabia is experiencing high economic growth, making it among the Top 3 fastest growing countries in the world,” the SAGIA chief said. “There are a lot of investment opportunities in key sectors, especially in transport, health and education, where the government is spending huge money,” he said.
Al-Othman described Saudi Arabia as one of the best places for investment. “The Kingdom is one of the largest markets in the region with a strategic position and a good investment climate,” he said.
“There is a lot of liquidity looking for a good home in Saudi Arabia. And importantly, the Saudi market has developed comfort with long-term debt issues in Saudi riyals,” said Jamal Al-Kishi, chief executive officer of Deutsche Securities Saudi Arabia.