RIYADH: The General Authority of Statistics reports that in the three months ending in September, Saudi Arabia’s net foreign direct investment increased 37% on a quarterly basis. The amount, which represents the Kingdom’s net investment gain after taking into account both inward and outward activity, reached SR16 billion ($4.27 billion) during the time, according to data made public by the organization.
The main cause of the spike was a sharp drop in FDI outflows, which fell by 74.36 percent to SR2 billion over this time. In the meantime, FDI inflows, which represent Saudi Arabia’s investments, fell 7.22% to SR18 billion. Over the last two years, the Kingdom has carried out important legal changes to support foreign direct investment and promote economic diversification in line with Vision 2030.
Its dedication to establishing itself as a desirable location for foreign investors is demonstrated by the latest regulatory developments. Together with strategic investments in giga-projects like NEOM, these reforms support Saudi Arabia’s Vision 2030 objectives, which include increasing its share of the GDP to 5.7% by 2030 and bringing in $100 billion in FDI annually. The Ministry of Investment implemented a new technique in October to generate the most recent data.
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