$141bn FDI: Saudi Arabia leads in Middle East

[Arabian Legend]

Saudi Arabia is in top position when it comes to drawing foreign direct investment (FDI) in the entire Middle East, having attracted $141 billion during the past five years.
Revealing this, Commerce and Industry Minister Tawfiq Al-Rabiah said: “These investments, together with government spending of $718 billion, were instrumental in spurring economic growth.”
The minister made these remarks as he opened a meeting of the Saudi-British Business Council in London.
Al-Rabiah underscored the growing trade exchange between the two countries, which touched a staggering $16 billion in 2012.
Saudi exports to Britain rose by 60 percent to cross $3.7 billion, the minister said, while highlighting the facilities and incentives offered by the Saudi government to foreign investors.
Lord Astor, British undersecretary of state for defense, praised the strong Saudi-British relations.
The highlight of the meeting was the signing of three agreements between private companies specialized in real estate, education and solar energy.
Saudi Arabia is seen as one of the fastest growing G-20 countries in recent years.
The increase in oil revenues has successfully been used to support growth in the nonoil sectors.
The Kingdom has been strengthening its private sector to satisfy demand for jobs from young citizens and reduce its dependence on oil exports.
Recent data made available from Saudi Arabian Monetary Agency (SAMA) revealed that its net foreign assets climbed to a record high of SR2.688 trillion ($716.7 billion) in December, up 10.7 percent from the previous year.
Saudi Arabia’s M3 money supply growth slowed to 10.9 percent year-on-year at the end of December from 13.5 percent in the previous month.
Bank lending growth to the private sector also decelerated to 12.5 percent in December, the weakest clip since February, 2012, from 13.8 percent in November.

$141bn FDI: Kingdom leads in Middle East | Arab News — Saudi Arabia News, Middle East News, Opinion, Economy and more.

 

[al-Hasani]

@Arabian Legend

This is amazing news. Extremely positive for the economy on the long run. Coupled with a booming and growing private industry, all the enormous government projects and money that has been allocated on science, the health care system, infrastructure, education system etc. combined with the "liberalization" of certain unfavorable laws all encourages me hugely.

Likewise the diversification of the economy. But the country just needs to go forward and never be satisfied. Still a lot to change and do much, much better.

 

[halupridol]

no kidding...
u guys r sooo rich....

that was a sincere trolling attempt.

 

[Infoman]

Oil....the only reason, not because of special talent. If I am born into a rich family that does not mean I personally achieved anything. Without oil it is just dust in the wind.

 

[Chinese-Dragon]

Oil....the only reason, not because of special talent. If I am born into a rich family that does not mean I personally achieved anything. Without oil it is just dust in the wind.

It's not just oil and resources though.

Sub-Saharan Africa is one of the most resource-rich regions on the planet, yet they have not used it to develop themselves.

In fact, out of the most "oil-rich" countries, Saudi Arabia has performed near the top in terms of factors like development and economic growth.

Having a lot of resources can be a curse rather than a blessing, hence the so-called "resource curse". But Saudi Arabia has done well, mainly because they like to re-invest a lot of their resource earnings into vital sectors like education, infrastructure and science.

 

[Infoman]

It's not just oil and resources though.

Sub-Saharan Africa is one of the most resource-rich regions on the planet, yet they have not used it to develop themselves.

In fact, out of the most "oil-rich" countries, Saudi Arabia has performed near the top in terms of factors like development and economic growth.

Having a lot of resources can be a curse rather than a blessing, hence the so-called "resource curse". But Saudi Arabia has done well, mainly because they like to re-invest a lot of their resource earnings into vital sectors like education, infrastructure and science.

Well you can't compare Arabs to sub Saharan black people, Arabs are much more intelligent than sub Saharan black people. Sub Sahara Africa still practice cannibalism, witchcraft and still walk around naked.

 

[waikici]

Saudi Arabia leads in Middle East

This was the joke of the week

A leader that only gives weapons and send Al Qaeda psychos to make war?

 

[al-Hasani]

Oil....the only reason, not because of special talent. If I am born into a rich family that does not mean I personally achieved anything. Without oil it is just dust in the wind.

Oh, please stop with those bombastic and empty claims. Do you even know about this region at all? The ancient Middle East universally known as the dawn of civilizations?

The Arabian Peninsula was a major trade route for millenniums. 5000 years approximately with numerous ancient civilizations and with extensive relations and cooperation with neighboring Egypt, Mesopotamia, South Asia etc. Or native once such as the Dilmun civilization that was a trading partner of IVC and nearby Mesopotamia.

KSA and the Arab world back then was already among the richest parts of the world. The ME overall. It had ancient civilizations and many natural resources back then and controlled the major trade routes of the world and huge, huge empires. Among the very biggest in history. 3 of the world's 11 biggest empires ever were empires ruled by Arabs or Arab empires although like every empire back then they were multiethnic and cosmopolitan.

The Arabian Peninsula was always a rich region in terms of natural resource. Be it limestone, barite, copper, gold, gypsum, silver, zinc etc. KSA had the biggest gold mine and numerous mines of the region. Some operating for 5000 years.

Mahd adh Dhahab - Wikipedia, the free encyclopedia

All areas of the world and people of significance once became rich either through conquests and what followed (taxation, conquest of riches), trade, strategic location or natural resources.

That's how Europe has been able to dominate since the 1500's where they took the throne of us Middle Eastern people and other people of Asia. Mostly through conquests (colonizations) and thus the resources they got from that and that enabled them to improve as a people on all levels. How otherwise explain an isolated and tiny island like Britain controlling 33% of the world less than 100 years ago?

Well you can't compare Arabs to sub Saharan black people, Arabs are much more intelligent than sub Saharan black people. Sub Sahara Africa still practice cannibalism, witchcraft and still walk around naked.

That's just an insane comment. No people are genetically more clever than the other. It is bound in many other factors that can change such as most importantly environment.

@Chinese-Dragon that individual that you are having a debate with right now hates KSA for religious/political reasons so please ignore him for the most part.

@waikici aka @elis aka @Sun Piwa is a similar individual.

 

[waikici]

It's not just oil and resources though.

Sub-Saharan Africa is one of the most resource-rich regions on the planet, yet they have not used it to develop themselves.

In fact, out of the most "oil-rich" countries, Saudi Arabia has performed near the top in terms of factors like development and economic growth.

Having a lot of resources can be a curse rather than a blessing, hence the so-called "resource curse". But Saudi Arabia has done well, mainly because they like to re-invest a lot of their resource earnings into vital sectors like education, infrastructure and science.

It's mainly because they have USA bases and chose to collaborate with the JEW USA invaders against Islam

@al-Hasani

 

[Infoman]

Many of the brightest Arabs were from Iraq and the levant, not Saudi Arabia. The phoenicians, Babylonians, Assyrians, and Egyptians are the ones known for their contributions to math and science.

 

[al-Hasani]

The Arabs from Iraq (Abbasids) were exclusively (more or less) all from what is now KSA or Yemen. Including the very rulers. They just settled in what is today Iraq and founded many cities etc. including Baghdad, Basra, Karbala, Najaf etc. Not only there but across the entire world.
Back then there was nothing called Arab, Persian, Turkish etc. Those were Semitic civilizations that stretched to many territories of what is now KSA and they all had connections to other Semitic civilizations. 3 of those you mention where present in what is now KSA. Northern KSA and Eastern.

The native Dilmun civilization in Eastern KSA and Bahrain is nearly as ancient as the Sumerians and were a trading partner of IDV and Sumer. Lastly Yemen, which has one of the most ancient histories of the world and thus ME region also accelerated on those disciplines.

Bulit one of the seven wonders of the world and had the first recorded queen in history that ruled (Queen of Sheba).

Ancient history of Yemen - Wikipedia, the free encyclopedia

History of Yemen - Wikipedia, the free encyclopedia

Islamic history of Yemen - Wikipedia, the free encyclopedia

All of those civilizations mostly based in Yemen were part of modern day Southern territories of KSA and parts of Hijaz.

Anyway you clearly chose to ignore the facts I mentioned and tried to change the subject.

Read post number 8 again. That's all that matters. Not what I am replying to now.

 

[Wahhab2701]

Well you can't compare Arabs to sub Saharan black people, Arabs are much more intelligent than sub Saharan black people. Sub Sahara Africa still practice cannibalism, witchcraft and still walk around naked.

You are right that we are not supposed to compare KSA with africans. Rather compare them with their eastern neighbor (iran). Iran (under the ayatullahs) with the same rich natural resources and very long glorious history still having difficulties in fulfilling the basic need for their people. Recently 3 people died due to freeze while queuing for food. Hundeds of Thousands if not millions of their people took refugee overseas risking their lifes and their families life's. Now look at their western neighbor ( libya) with abundant resources hydrocarbon and other resources this country now is in a deeper shit than Iran. KSA's achievement in development is not purely oil matters but also the wisdom on how to spend the oil money.

 

[Infoman]

You are right that we are not supposed to compare KSA with africans. Rather compare them with their eastern neighbor (iran). Iran (under the ayatullahs) with the same rich natural resources and very long glorious history still having difficulties in fulfilling the basic need for their people. Recently 3 people died due to freeze while queuing for food. Hundeds of Thousands if not millions of their people took refugee overseas risking their lifes and their families life's. Now look at their western neighbor ( libya) with abundant resources hydrocarbon and other resources this country now is in a deeper shit than Iran. KSA's achievement in development is not purely oil matters but also the wisdom on how to spend the oil money.

Iran is under sanctions, seems like you are not as educated as you think you are.

 

[Wahhab2701]

If they (the ayatullahs) are wise (and smart like me) nobody will sanction them.

 

[Infoman]

If they (the ayatullahs) are wise (and smart like me) nobody will sanction them.

Saudi Arabia is a slave to Israel, so no sanctions for them.

Iran is not a slave to Israel, so they are punished with sanctions.