Saudi FDI stock surges 61pc to $215bn in six years, says report
RIYADH, August 11, 2024
The foreign direct investment (FDI) stock coming into Saudi Arabia has surged by 61% from 2017 to 2023, reaching almost $215 billion last year, reported SPA adding that the FDI inflows grew by 158% to $19.3 billion for the six-year period.
This was mainly due to the pro-investment measures introduced by Saudi Arabia in recent years including the Civil Transactions Law, Private Sector Participation Law, Companies Law, Bankruptcy Law and Special Economic Zones.
These initiatives and developments, in addition to incentives, facilities, and enablers, have motivated investors to seek a positive, supportive and stable investment environment, stated the report.
Saudi Minister of Investment Khalid Al Falih said these reforms have helped drive rapid investment growth, with gross fixed capital formation up 74% from 2017 to nearly $300 billion in 2023.
"The law reaffirms Saudi Arabia’s commitment to creating a welcoming and secure environment for investors, driving economic growth, and enhancing the Kingdom’s position as a premier global investment destination," he stated.
The policy direction outlined in Vision 2030 allows investors to invest with certainty and to grow with confidence at a time when many other markets are experiencing considerable volatility.
The executive regulations will come into effect beginning in 2025.
