Foreign direct investment inflows to Saudi Arabia hit $5.17bn

Foreign direct investment (FDI) into Saudi Arabia surged by 17 percent in the fourth quarter of 2023, compared to the previous period, recent data shows.

According to analysis from the General Authority of Statistics, FDI inflows reached SR19.38 billion
($5.17 billion), up from SR16.6 billion in the third quarter. Similarly, FDI outflows from the Kingdom rose by around 17 percent to SR6.19 billion during the same period, resulting in a net inflow of SR13.187 billion.

This increase in investment is attributed to updated methodology aligning with international standards, enhancing transparency and accuracy. Collaborative efforts by government entities, including the Ministry of Investment and the Saudi Central Bank, aim to create a more attractive investment environment in line with Vision 2030.

The Kingdom's National Investment Strategy, Regional Headquarters Program, and tax incentives for foreign companies are among the initiatives driving this growth, attracting multinational corporations like Google, Microsoft, and Amazon.

Saudi Arabia targets an FDI inflow of SR 388 billion by 2030, positioning itself as a global economic powerhouse.