30 Jun 2024

Saudi Arabia sees 5.6% rise in FDI in Q1 2024

RIYADH: Saudi Arabia saw a 5.6 percent increase in net flow of foreign direct investment in the first quarter of 2024 compared to the previous year, the official data showed. 

According to the latest figures from the General Authority for Statistics, the net flow of FDI reached SR9.5 billion ($2.53 billion) in the first three months of this year, up from SR9 billion recorded during the same period last year. 

 

This growth underscores Saudi Arabia’s continuing appeal to international investors. These figures reflect the Kingdom’s ongoing efforts to enhance its investment environment and support economic growth, in line with the objectives of Vision 2030. 

FDI inflows during the first quarter amounted to around SR17 billion, marking a growth of 0.6 percent from the SR16.9 billion recorded in the first quarter of 2023. This moderate increase highlights the sustained confidence of foreign investors in the Saudi market. 

Conversely, FDI outflows during the first three months of this year totaled about SR7.5 billion, representing a decrease of 5.1 percent compared to SR8 billion in the first quarter of 2023. This decline in outflows indicates a stronger retention of foreign capital within the Kingdom.