Riyadh
Early evidence of economic recovery in Saudi Arabia came in statements from two ministers at the sharp end of the Kingdom’s strategy to combat the effects of the coronavirus disease pandemic. Saudi Minister of Investment Khalid Al-Falih announced that 506 new business licenses were granted in the first half of this year, with a burst in activity in June partly compensating for a big fall-off in April and May when lockdowns severely curtailed global investment activity.
The minister said he was “encouraged by the resilience demonstrated by the Saudi economy in the first half of 2020.” He added: “The positive economic data for June gives us confidence that the Saudi economy is rebounding from the impact of Covid-19 and that growth in foreign investment will begin to regain the strong momentum we have seen in recent years.”– Agencies
