Net foreign direct investment (FDI) inflows to Saudi Arabia rose 5.6% to 9.5 billion riyals ($2.53 billion) in the first quarter of 2024, government data showed on Sunday.
The kingdom hopes to attract $100 billion in FDI by 2030 © Mena Today
Net foreign direct investment (FDI) inflows to Saudi Arabia rose 5.6% to 9.5 billion riyals ($2.53 billion) in the first quarter of 2024, government data showed on Sunday.
Inflows were up 0.6% to 17 billion riyals in the first three months compared with a year earlier, while outflows fell by 5.1% to about 7.5 billion riyals.
The kingdom hopes to attract $100 billion in FDI by 2030 to boost non-oil gross domestic product as part of a wider strategy by de facto ruler Crown Prince Mohammed bin Salman to diversify the economy away from its reliance on crude oil exports.
Earlier this month, over half of the shares offered under Saudi Aramco's $11.2 billion secondary share sale were sold to foreign investors.
The oil giant has also helped lift FDI previously, but even with those deals FDI remained far from the 2030 goal, peaking at $32.8 billion in 2022 and reaching $19.2 billion last year.
($1 = 3.7516 riyals)
Reporting by Federico Maccioni
Israel’s decision on December 26, 2025 to recognise Somaliland as an independent state has landed like a starting pistol for dealmakers: a rush of exploratory calls, “we should go now” trade missions, and early jockeying for pole positions that tend to vanish once bigger capitals and multilateral lenders pile in.
Yemen's Saudi-led coalition said any military moves by the main southern separatist group STC in the eastern province of Hadramout that undermined de-escalation efforts would be countered to protect civilians, the Saudi state news agency reported on Saturday.
The United Arab Emirates welcomes Saudi Arabian efforts to support security and stability in Yemen and remains committed to backing stability in the country, the UAE’s foreign ministry said on Friday.
To make this website run properly and to improve your experience, we use cookies. For more detailed information, please check our Cookie Policy.
Necessary cookies enable core functionality. The website cannot function properly without these cookies, and can only be disabled by changing your browser preferences.