Foreign Investment in Saudi Arabia Continues to Grow in the Gulf Kingdom

7 days ago
Foreign Investment in Saudi Arabia Continues to Grow in the Gulf Kingdom

According to data from the investment ministry, there was a notable 10.7 percent increase in foreign direct investment (FDI) inflows into Saudi Arabia during the third quarter of 2022 compared to the corresponding period in the previous year.

According to the latest monthly bulletin from the investment ministry, Foreign Direct Investment (FDI) inflows in the third quarter of 2022 amounted to 7.2 billion riyals ($1.9 billion), up from 6.5 billion riyals in the same period last year.

Saudi Arabia has set sail on an ambitious journey of economic and social reform encapsulated in its Vision 2030. This sweeping initiative focuses on reducing the country’s dependence on oil through diversification efforts and fostering a refreshed social contract with its citizens.

The World Bank recorded Saudi Arabia’s growth rate at 3.2% in 2021, a significant rise from the previous year given the impacts of Covid-19 on the global economy. 


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