*Saudi Arabia is adopting a tried-and-tested approach in opening its markets for foreign ownership, eco**mists and analysts said on Friday. "I believe the foreign ownership rules were an**unced in a timely and steadfast manner, offering transparency and commitment to opening the market," said John Sfakianakis, a Riyadh-based investment strategist. He was commenting on draft rules unveiled by the Capital Market Authority on Thursday for opening the $580 billion market to direct investment by foreign institutions, including a 10 percent cap on foreign ownership of the market's value. Sfakianakis added: "I don't believe these measures will be well-received by local and foreigners alike given that the Saudi market offers fantastic opportunities for upward growth."
08-25-2014, 01:12 AM
Tadawul offers ‘fantastic opportunities for growth’
*Saudi Arabia is adopting a tried-and-tested approach in opening its markets for foreign ownership, eco**mists and analysts said on Friday. "I believe the foreign ownership rules were an**unced in a timely and steadfast manner, offering transparency and commitment to opening the market," said John Sfakianakis, a Riyadh-based investment strategist. He was commenting on draft rules unveiled by the Capital Market Authority on Thursday for opening the $580 billion market to direct investment by foreign institutions, including a 10 percent cap on foreign ownership of the market's value. Sfakianakis added: "I don't believe these measures will be well-received by local and foreigners alike given that the Saudi market offers fantastic opportunities for upward growth."
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