Current and Potential Members
Current members of SAGIA are drawn from top world economies including United State, China, United Kingdom, Japan, France and Germany. Some of the leading companies from China that are members of SAGIA include; China National Machinery Industry Corp and China Nonferrous Metal Industries who have jointly invested over USD $4 billion in an aluminum melting complex. Guizhou Hongfu industry and Commerce development co Ltd have invested in Phosphate Beneficiation Plant. China Railway 18th bureau, Hong Kong PCCW and China harbor are also members of SAGIA.
French investment in Saudi Arabia through SAGIA is mainly concentrated in service industries. Some of the members from France are Calyon (Banking sector), Stesa (Telecommunication), Comapgnie Generale de Geophysique (Seismic projects), Saint Gobain (mineral water), Bouygues (recreation) and Accor, who have invested in hotel industry. Sap, Fraport, Herrenknecht and Bahn are the leading companies from Germany who are members of SAGIA.
Japanese companies are top of the list of companies which are members of SAGIA operating in Saudi Arabia. These companies include Sumitomo chemicals, Mitsubishi corp., Marubeni, NEC Corp, Mitsubishi Electric, Unicharm, and Fujitec among others. United Kingdom has also invested in Saudi through companies such as SAAB, National factory for Can Ends Ltd, GLAXO, MK Cable management and Synthometer Middle East.
There are a number of companies from United States which are member of SAGIA. They include Exxon Mobil, Cisco, Boeing, Intel, The Dow Chemical Company, Microsoft and Conoco Philip. Singapore became a potential partner recently when SAGIA opened representative office in that country. This led to the formation of Saudi-Singapore Business Council. Singapore companies aim at investing in Education, energy and technology transfer.
How to become a Member of SAGIA
To become a member of SAGIA, investor must have a set minimum amount of capital depending with the sector they want to investment in. The minimum capital required for Industrial investment is $1 million while real estate and farming is $25 million. Trading require a minimum $2 million and must be in partnership with Saudi investor on 75% to 25% basis. Investor must adhere to all laws and regulation set by Saudi Arabia in order to be granted a trading license. An assortment of documents is required and must be translated to Arabic by a licensed translator. Some of these documents include copy of passport, personal photographs, financial statement, and copy of resume as well as copy of certificate of higher education. Depending with the type of investment and partnership, investor must submit a draft of article of association, shareholder resolutions and bank certificate. After all the documents have been received potential members have to wait for approval. The approval process time depends with the investment package that one holds. A ‘Blue’ package takes 30 days to be approved while a Public Private Partnership package takes only 1 hr.
Can anyone become a Member?
According to the above conditions set for becoming a member of SAGIA, not everyone can gain membership in this lucrative investment club. The rules are set to make sure that only the most qualified investor gain membership. Investor can qualify on one front and fail in another, say has enough capital but lack the proper documentation and verse versa. It is important to consider all requirements before starting the application process.