Women investments in Kingdom exceed SR60 billion

4105Saudi businesswomen retain SR100 billion in savings, or 75 percent of total bank savings Kingdomwide, a Saudi woman speaker told a forum in Madinah.

Iman Fallatah, deputy head of businesswomen committee at Madinah Chamber of Commerce and Industry, said share of the contracting sector owned by women stood at 14.8 percent of total commercial registers for women in Madinah region.

Addressing Madinah Investment Forum (MIF) recently, Fallatah said the volume of women investments in the Kingdom exceeds SR60 billion, or nearing 21 percent of the overall private sector investments.

The contracting sector is dominating women investments in Madinah at 14.8 percent of total women businesses, followed by foodstuffs at 11 percent, fast-food sector at 10.5 percent, workshops 9.1 percent, and dress-making shops 8.1 percent, she said.

Deputy Gov. of Saudi Arabian General Investment Authority (SAGIA) for Investment Affairs Prince Saud bin Khalid Al-Faisal said Madinah was one of six key regions selected to be a target of cooperation between SAGIA and these regions.

Giving details on the role of Madinah region, Prince Saud said the region is contributing 20 percent of the Kingdom’s nonoil exports, its gross domestic product (GDP) is estimated at SR60 billion, or 4 percent of the Kingdom’s GDP.

He said the volume of foreign investments in Madinah Region is exceeding SR46 billion represented in 200 projects with manpower of over 7,000 of which 3,800 are Saudis.

Meanwhile, Director General of Saudi Industrial Property Authority (MODON) Saleh Al-Rasheed said the number of developed industrial lands has increased from 40 million square meters in 2007 to 163 million square meters in 2013, or an increase of 302 percent.

Likewise, the number of industrial cities has increased from 14 to 32 cities whereas the number of factories has jumped to 5,400 compared to 1,950, or an increase of 177 percent, he said.

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