Article: More than two thousand new firms established in 2008.(Brief article)

Article from:
Saudi Economic Survey
Article date:
September 10, 2009
Copyright

The 45th Report of the Saudi Arabian Monetary Agency (SAMA) indicates that the Ministry of Commerce and Industry issued commercial registrations for the establishment of 2831 new firms in the year 2008, compared with 2274 firms established in 2007.

The total capitalization of these new firms, established in 2008, amounted to SR 70.4 billion or an average of SR 24.9 million for each firm. Taken against that, the total capitalization of new firms, established in 2008, amounted to SR 51.6 billion.

The report notes that the increase in the number of firms established and their total capitalization, in 2008, compared to the preceding year 2007, comes to 24.5% ...

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