Foreign direct investment to Saudi Arabia rose 10% from $3.18 billion in the first nine months of 2018 to $3.50bn in the first nine months of 2019, according to figures from the Saudi Arabian Monetary Authority released by Invest Saudi.
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The kingdom is looking to boost FDI in a bid to diversify its economy away from oil in line with its Vision 2030 plan.
The principles include ensuring equality between Saudi and foreign investors, ensuring the protection of investment within the kingdom’s laws, enabling sustainability and transparency when addressing investor complaints and providing equal investment incentives and non-discriminative criteria for eligibility.
Other principles state that the kingdom will implement appropriate social and environmental regulations, facilitate access procedures for foreign workers and their families and ensure the transfer of knowledge.
In 2018, Saudi Arabia saw foreign direct investment (FDI) rise by 127 percent year-on-year, according to SAGIA.
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