By ARAB NEWS
Published: Dec 24, 2011 00:19 Updated: Dec 24, 2011 00:19
RIYADH: The Saudi Arabian General Investment Authority (SAGIA) said in a statement on Friday that the Kingdom has the highest rate of investment flow in the Middle East and North Africa (MENA) region with an annual average of $25 billion.
The Kingdom is a member of G20 countries and occupies the 17th rank in the report of the World Economic Forum and is ranked 12th by World Bank for the ease of doing business.
The statement also dismissed news about some evaluation report of investments in the Kingdom. This report was issued at the recent Riyadh Economic Forum.
SAGIA said the report did not adhere to the scientific method that needs to be followed when such reports are prepared.
It said the samples taken in the report were far below the number of required percentage.
SAGIA is refuting the report to give a real picture of the Saudi Arabian economy and investment climate and also clear the wrong impressions that such reports would create locally and internationally. SAGIA also affirms to international and local investment companies that the report does not reflect the current economic and investment status of the Kingdom. SAGIA also made it clear that the report contradicts the growth in number of Saudi and foreign investments in the Kingdom.