• Register

KSA adopting tested approach for foreign ownership

: Tuesday, August 26 - 2014 @ 09:19

Economists and analysts said on Friday that Saudi Arabia is adopting a tried-and-tested approach in opening its markets for foreign ownership, Arab News reported. “I believe the foreign ownership rules were announced in a timely and steadfast manner, offering transparency and commitment to opening the market,” said John Sfakianakis, a Riyadh-based investment strategist. He was commenting on draft rules unveiled by the Capital Market Authority on Thursday for opening the $580bn market to direct investment by foreign institutions. He said: “The economy is growing at more than 4%, earnings over the next few years could reach 15%-20%, and dividends could surpass 3.5% over the next year.” Sfakianakis says he expects more than $45bn to enter the market from foreign investors which is well within the $58bn mark provided by the 10% cap. “A lot of foreign smart money will want to enter the Saudi market given that other markets might be reaching their upper limits going forward,” said Sfakianakis.

Today's Top Stories

Posted by

Tuesday, August 26- 2014 @ 9:19 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

AME Info Services

Business DirectoryVIEW ALL

Search by name

Search by industry

Browse alphabetically


Search for jobs

Latest Jobs