JEDDAH: Saudi Arabia will open its $532 billion stock market to direct foreign investment on June 15, allowing qualified foreign institutions to buy shares, the Capital Market Authority (CMA) said.
Final rules covering the opening of the market will be published on May 4, the CMA added.
The authority announced last July that it would permit direct foreign purchases of shares in the first half of 2015.
Fund managers believe tens of billions of dollars will eventually enter the country as a result.
The Philippines Department of Tourism (PDOT) has confirmed its participation at the Riyadh Travel Fair 2015 edition, to be held on April 14-19 at the Four Seasons Hotel Riyadh, as part of a strengthened initiative to proactively attract family travellers from the kingdom to visit the Philippines during the Visit Philippines Year 2015 promotions.
Verna Buensuceso, Officer-In-Charge, Market Development Group, Philippines Department of Tourism, said: