Foreign Direct Investment in Saudi Arabia rises to $215 Billion

Industry

Riyadh, Khalid Al Falih, Saudi Minister of Investment, said that the pro-investment measures introduced by Saudi Arabia in recent years include the introduction of the Civil Transactions Law, Private Sector Participation Law, Companies Law, Bankruptcy Law and Special Economic Zones. These reforms have helped drive rapid investment growth, with gross fixed capital formation increasing by 74% from 2017 to nearly $300 billion in 2023. Additionally, FDI stock increased by 61% from 2017 to 2023, reaching almost $215 billion in 2023, and FDI inflows have surged by 158%, jumping from $7.5 billion in 2017 to $19.3 billion in 2023. These initiatives and developments, in addition to incentives, facilities, and enablers, have motivated investors to seek a positive, supportive, and stable investment environment, the Saudi Press Agency (SPA) reported. The minister added "The law reaffirms Saudi Arabia's commitment to creating a welcoming and secure environment for investors, driving economic growth, and enhancing the Ki ngdom's position as a premier global investment destination." 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 updated investment law builds on an extensive diversification agenda from an enhanced quality of life offering to investment specific measures such as the establishment of special economic zones. Developed by the Ministry of Investment of Saudi Arabia (MISA), the updated law follows an extensive consultation process for investors and in line with global best practices. The law is also compatible with the Gulf Cooperation Council (GCC), World Trade Organization (WTO) and other bilateral investment treaties and international obligations. The executive regulations will come into effect beginning in 2025. Source : Bahrain News Agency