Netherlands among top 20 countries investing in Saudi Arabia

Strong economic ties between Riyadh and Amsterdam helped the Netherlands become one of the top 20 countries currently invested in Saudi Arabia, Joost Reintjes, the Dutch Ambassador to Riyadh, told Al Eqtisadiah Newspaper.

Reintjes added that Dutch firms are seeking more investments in the Kingdom, particularly in healthcare, education, or water and sewage.

The trade volume between the two countries reached SAR 24 billion, according to the latest statistics. Dutch investments account for SAR 49.5 billion in foreign capital.

He pointed out that the biggest European investor in Saudi Arabia is a Dutch firm with total investment of SAR 127 billion.

Earlier this month, Ibrahim Al-Omar, the governor of Saudi Arabian General Investment Authority (SAGIA), told CNBC that foreign direct investment (FDI) in Saudi Arabia has increased by 40 percent in Q1 2018 compared to same period in the previous year.

Saudi Arabia aims to increase FDI from 3.8 percent to 5.7 percent of gross domestic product (GDP) as part of its Vision 2030 reforms.