Saudi investment climate ranks highly globally in US News report

Saudi Arabia is the second best country to invest in according to a US News report. (AFP)
Updated 18 April 2019

Saudi investment climate ranks highly globally in US News report

  • According to the report Saudi Arabia has a strong performing economy
  • Kingdom was ranked second only behind Uruguay

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.


Saudi Arabia announces 17 more COVID-19 deaths

Updated 27 November 2020

Saudi Arabia announces 17 more COVID-19 deaths

  • The total number of recoveries in the Kingdom has increased to 345,622
  • A total of 5,857 people have succumbed to the virus in the Kingdom so far

LONDON: Saudi Arabia announced 17 deaths from COVID-19 and 302 new infections on Friday.
Of the new cases, 70 were recorded in Riyadh, 28 in Jeddah, 18 in Yanbu, 17 in Madinah, 14 in Dhahran, 14 in Makkah and 8 in Dammam.
The total number of recoveries in the Kingdom increased to 345,622 after 407 more patients recovered from the virus.
A total of 5,857 people have succumbed to the virus in the Kingdom so far.