Eastern Province Gains 7B Riyals Investment
The article discussed the investments of the Eastern Province Municipality, which amounted to approximately 7 billion Saudi Riyals from 17 countries. These investments were carried out through over 91 investment contracts, involving Gulf, Arab, Asian, European, and American nationalities. The municipality is focused on diversifying projects, facilitating procedures, and enhancing an attractive environment for investors, while offering incentives such as expediting licensing processes and reducing bank guarantees, with the aim of stimulating the local economy and supporting private sector participation. Officials also indicated that investment revenues exceed 2 billion Riyals annually and that the municipality has successfully invested more than 95% of its assets. There is also an emphasis on diversifying contracts between short-term and long-term commitments and providing various facilities to investors.
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