Saudi’s General Investment Authority grants 4 French companies investment licenses

Updated 11 April 2018

Saudi’s General Investment Authority grants 4 French companies investment licenses

DUBAI: The Saudi General Investment Authority (SAGIA) granted four French companies investment licenses to conduct business in the Kingdom on Wednesday, Saudi state-news agency SPA reported.
The deal occurred on the sidelines of the Saudi-French CEOs Forum that coincides with Prince Mohammed bin Salman’s visit to France.
SAGIA’s Governor Ibrahim Al-Omar said the licenses were given to the companies to operate in the fields of services, environment, technology and transportation, stressing that the Kingdom is seeking to encourage international companies to invest more in accordance with Vision 2030 and promote competitiveness in the Kingdom to attract more foreign investments.
Al-Omar confirmed that SAGIA is working on establishing better practices and techniques that can facilitate the work for investors in the Kingdom, improve the regulatory and procedural environment to encourage quality investment, develop the infrastructure to facilitate the work and find an appealing environment for investors to allow a better and easier workflow.
Within its strategic policy, SAGIA seeks to attract high-value investments that contribute to improve the national economy.


Safeguarding the Two Holy Mosques is vital task for Saudi security forces, spokesman says

Updated 5 min 50 sec ago

Safeguarding the Two Holy Mosques is vital task for Saudi security forces, spokesman says

  • Attia also reviewed the security issues and challenges the Kingdom has faced over the years

MAKKAH: Maj. Gen. Bassam Attia, a spokesman for the Saudi security forces, on Tuesday highlighted the importance of national security and the efforts that are made to develop procedures and strategies to protect the Kingdom from hostile forces.

In particular, he stressed the importance that is placed on ensuring the security of the Two Holy Mosques, in recognition of their unique place in the history and heritage of the country, and their civilizational and historical value.

His comments came during a lecture titled “Threats to National Security,” which was organized by Umm Al-Qura University in collaboration with the Presidency of State Security. The university’s president, Dr. Abdullah bin Omar Bafail, also attended.

During his talk, Attia reviewed the security issues and challenges the Kingdom has faced over the years. He discussed the frameworks that have been put in place to protect the nation and its leaders from terrorism, extremism and espionage, and thwart any hostile acts or plans.

He also discussed key national-security concepts adopted by all countries, including economic, military, social, psychological, geopolitical, environmental, educational and political dimensions. He noted that efforts to ensure and preserve Saudi Arabia’s national security begin from within and extend throughout the region and internationally, and that what happens in the Kingdom affects other countries. Attia added that protecting the security of the Kingdom is a broad remit that constantly faces new challenges.