2000 News Story

SAGIA lists activities excluded from foreign investment

The Saudi Arabian General Investment Authority (SAGIA) has adopted a list of economic activities that are excluded from private investment. SAGIA's Governor Prince Abdullah bin Faisal bin Turki stated that the list, submitted to the Higher Economic Council (HEC), is not intended to be either final or inflexible, adding that it is not desirable to place too many restrictions on investment in the Kingdom. Exclusions apply only to industry, and are limited to areas such as the manufacture of prohibited materials, military equipment and explosives.