Eastern Province signs over 100 foreign investment contracts

The Eastern Province Municipality, represented by the Agency for Investments and Revenue Development, has signed more than 100 investment contracts with investors from outside the Kingdom. This reflects the growing attractiveness of the Eastern Province as a promising investment destination and the development of the municipal investment environment.

Spokesperson Faisal Al-Zahrani said these contracts are part of an integrated investment system through which the municipality works to develop municipal assets, enhance their economic efficiency, and offer high-quality investment opportunities across various sectors. These efforts align with the goals of Saudi Vision 2030 and contribute to improving quality of life, diversifying options for investors, and keeping pace with the economic, tourism, and development strengths of the Eastern Province.

He added that the municipality is working to boost foreign investment by offering a wide range of investment opportunities, streamlining investor services and procedures, and providing an enabling environment that helps turn opportunities into impactful projects.

Al-Zahrani noted that there are more than 18 types of investment activities available to investors of various nationalities, including entertainment, tourism, industry, logistics, and commercial and service sectors. He highlighted that the distribution of investment opportunities across the Eastern Province gives investors multiple options that meet market needs and the aspirations of residents and visitors, while also enhancing the diversity of products, services, and investment destinations.

He pointed out that the value of investment projects supervised by the municipality exceeds 30 billion riyals (SAR), while the value of foreign investments has surpassed 7 billion riyals, underscoring the growing role of investment in supporting the local economy, attracting capital, and stimulating economic sectors linked to projects and investment destinations.