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Saudi Arabia to open stock market to foreigners

  • Saudi Arabia, the Middle East's largest and most liquid market, is planning to open its $530B stock market to foreigners.
  • The country is hoping to increase international investment and cut dependence on oil revenue through the new move.
  • In 2008, Saudi Arabia began permitting foreign investors indirect access to the market through swaps, but is now looking to fully open the market due to its new plans of spending hundreds of billions of dollars in the domestic economy.
  • The Saudi Tadawul index is already up 14% this year.
  • ETFs: GULF, MES
Comments (3)
  • wbarilka
    , contributor
    Comments (27) | Send Message
     
    This is very, very good news for the Kingdom of Saudi Arabia!

     

    I firmly believe it'll bring more rationality and transparency to at least the public market (over time of course) as an increasing number of presumably sophisticated foreign investors and institutions begin to pay more attention to KSA.

     

    Foreign investor participation and direct investment in Saudi companies - through the public stock market - is yet another means for Saudi Arabia to integrate into the world economy which in my opinion is desperately needed.

     

    I've lived in KSA for 25+ years now so have some perspective on the Kingdom. l'm certain most foreigners living, working in Saudi Arabia applaud this move forward and will support it any way possible.
    22 Jul, 03:51 AM Reply Like
  • 11146471
    , contributor
    Comments (840) | Send Message
     
    Interesting... One of the few closed markets at present, the other one being China A-shares.
    22 Jul, 10:15 AM Reply Like
  • caupachow
    , contributor
    Comments (415) | Send Message
     
    what? the oil thing ain't working out so good anymore?
    22 Jul, 02:02 PM Reply Like
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