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Saudi Arabia’s FDI soars to $65bn post-pandemic, among top in West Asia: report

 Saudi Arabia has been successful in attracting significant foreign direct investment (FDI) over the past few years, totaling $65.1 billion in the three years post-pandemic until 2023. This places Saudi Arabia among the top recipients of FDI in West Asia, according to the latest World Investment Report by UNCTAD.

The Kingdom has also seen substantial FDI outflows, totaling $73.1 billion over the same period, with $16 billion recorded in 2023 alone. These figures highlight Saudi Arabia's active role in global investment activities, ranking 16th globally for FDI outflows.

The National Investment Strategy (NIS) and Vision 2030 targets have played a crucial role in attracting and facilitating foreign investments. Launched in 2021, NIS aims to develop comprehensive investment plans across various sectors, including manufacturing, renewable energy, transport and logistics, tourism, digital infrastructure, and healthcare.

The goal is to increase annual FDI flows to over $103 billion and boost annual domestic investment to more than $453 billion by 2030, aligning with Vision 2030's objectives of economic diversification and growth.

Saudi Arabia has also witnessed significant growth in international project finance deals, with a 55 percent annual increase in 2023, reaching $22 billion. This reflects growing investor confidence and interest in the Kingdom's projects and initiatives.

However, the global landscape for international investment remains challenging in 2024, with factors such as declining growth prospects, economic fragmentation, and trade and geopolitical tensions influencing FDI patterns. Despite these challenges, Saudi Arabia's proactive approach to investment promotion and its strategic initiatives continue to attract substantial investments, contributing to its economic growth and development.

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