The number of US businesses operating in Saudi Arabia reached 462 in December with a total investment if more than 56.7 billion Saudi riyals ($15.1 billion), the Saudi General Investment Authority (SAGA) revealed yesterday.

The authority’s announcement came on the sidelines of a visit by a US delegation to the Saudi capital Riyadh, which included a number of the largest multi-sectoral American companies.
According to official data, the industrial sector holds most US investments in the Kingdom amounting to 44.2 billion Saudi riyals ($11.8 billion), which represents 78 per cent of the total American investments in Saudi Arabia.