Saudi agencies sign MoU to boost investment

Memorandum_of_understandingThe Saudi Arabian General Investment Authority (SAGIA) and the Diriyah Gate Development Authority (DGDA) have signed a memorandum of understanding (MoU) designed to attract more local and foreign investors to the kingdom and its real estate and infrastructure sectors. The MoU will boost cooperation in a number of areas including the facilities and services offered to investors, claim the two authorities. A joint working group will be formed to provide the enhancements, to conduct more economic studies of the market and to boost the promotion of the market to international investors. “SAGIA believes in the importance of such cooperation that can unify and multiply the efforts in a way that sets the world’s attention on the Kingdom’s cultural and heritage treasures and investment opportunities,” said SAGIA governor Ibrahim Al-Omar. “This MoU is a step in the right direction to achieve the objectives and directives of both bodies,” added DGDA chief executive Jerry Inzerillo.  “Cooperating with SAGIA is one of the most important international investment motors to attract local and international investments to the kingdom.” © 2020 funds global mena

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