RIYADH:The balanced performance of Saudi stock exchange is expected to propel monetary liquidity for the aim of investment in listed firms during the coming period. The Saudi index closed Thursday’s trading at 7,085 points amid trading of monetary liquidity of SAR5.1 billion (USD1.36 billion), an enhanced liquidity compared to averages shown during the past three months.
In a related matter, up to 30 Saudi establishments are subject to quarterly evaluation by Saudi Export Development Authority. This assessment evaluates the exporting-readiness of the establishment and analyzes the current condition and potential enhancement opportunities that grant the firm a competitive advantage in accessing the field of exporting and global markets.
According to a statement issued Thursday, a number of field visits were carried out to the firms, which were provided with a detailed analysis of the firm, its points of weakness, progress opportunities and a number of recommendations to increase readiness.
Firms participating in the assessment come from diverse sectors, covering the basic target sectors in the national export strategy, such as petrochemicals, food, medical industries and construction items.
Secretary-General of the Saudi Export Development Authority Saleh al-Salami launched in the beginning of 2017 three initiatives relating to reinforcing exports. These initiatives contribute in meeting three national goals (on exports) listed in the National Transformation Program going in tandem with Saudi Vision 2030.
The three goals are: increasing non-oil exports, reinforcing export-related capabilities, infrastructure and procedures and, third, facilitating access and promotion in target markets.
These developments coincide with a jump of investment funds assets in Saudi Arabia in the third quarter of 2017 (2 percent), compared to the second quarter of the same year. Operating funds reached a total of 278 by the end of the third quarter.
Investment funds assets rose to SAR112.7 billion (USD30 billion) by the end of Q3 2017, revealed Saudi Arabian Monetary Authority (SAMA).
