RIYADH: Saudi Arabia is the second best country to invest in according to a US News report, which surveyed 7,000 business decision makers.
The report was based on a compilation of eight equally weighted country attributes: Corruption, dynamic markets, economically stable, entrepreneurial, favorable tax environment, innovative, skilled labor force and technological expertise.
US News also looked at what factors make a country unique – its people, environment, relationships, framework and teachings – which are included in a World Bank report that also highlights four distinct factors that motivate an individual or corporation to invest in that country: Natural resources, markets, efficiency and strategic assets like technologies or brands.
According to the US News report, “Saudi Arabia has a strong performing economy, making it an attractive and promising recipient of foreign direct investment,” and quoted World Bank estimates that the Kingdom’s economy was set to continue to grow.
Saudi Arabia was ranked second only behind Uruguay, while it beat out countries like India, Vietnam, Costa Rica and Chile in the top 10 listing.