Growth in Saudi Arabia's non-oil private sector accelerated to its fastest rate for 17 months in January as the government injected cash into the economy after a long period of austerity, a survey of companies showed on Sunday.
Saudi Cabinet approved rules “for foreign companies to invest in (the) wholesale and retail trade sector with 100 percent ownership.” The previous foreign direct investment limit was 75 percent. The decision is in line with the Vision 2030 plan.
Saudi Arabia accounted for 45 percent of Dubai's total trade within the region, the Dubai Chamber of Commerce and Industry said in a statement. The emirate's trade within the region is witnessing a higher pace of growth, according to the report.