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462 American companies invest $15.1bn in Saudi Arabia

A bank in Saudi Arabia [Argaam Plus/Twitter]

The number of US businesses operating in Saudi Arabia reached 462 in December with a total investment if more than 56.7 billion Saudi riyals ($15.1 billion), the Saudi General Investment Authority (SAGA) revealed yesterday.

The authority’s announcement came on the sidelines of a visit by a US delegation to the Saudi capital Riyadh, which included a number of the largest multi-sectoral American companies.

According to official data, the industrial sector holds most US investments in the Kingdom amounting to 44.2 billion Saudi riyals ($11.8 billion), which represents 78 per cent of the total American investments in Saudi Arabia.

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