Saudi Arabia sees biggest rise in FDI in 10 years

      Published on Monday, 20 January , 2020      330 Views     
Saudi Arabia sees biggest rise in FDI in 10 years


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.




The increase is the biggest the kingdom has seen over the past 10 years, with 1,130 foreign companies having been set up in the country in 2019, marking a 54% rise, said Invest Saudi, the state body promoting foreign investments.

The kingdom is looking to boost FDI in a bid to diversify its economy away from oil in line with its Vision 2030 plan.

Last year, the Saudi Arabian General Investment Authority (SAGIA) unveiled a set of seven investment principles to help develop a competitive investment environment in the kingdom.

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.

Keywords:
Category Saudi News | 2020/01/20 latest update at 9:53 PM
Source : Arabian Business | Photocredit : Google
331 Views
Comments Add comment



Gulf Media

Related Articles

The editorial staff of Saudi Arabia Today would like to give all of its readers from Gulf and Saudi Arabia and the whole world the opportunity to participate actively in the development of the website! If you have something interesting, fun, scandalous - just something worth to be seen from more people. Capture it and share it in the Saudi Arabia Today with a short text.

Do you have information you want to reach our readers?

Send article/s

You can subscribe to our Facebook, Twitter and Google pages or use our RSS feed channel to always read the most important news about Saudi Arabia, the Gulf and the world.


Sponsored Publications



Uber Eats expands to Makkah, Madinah
Saudi Arabia Saudi Arabia news

Uber Eats expands to Makkah, Madinah

Delivery service Uber Eats has expanded into two additional Saudi cities, launching in both Makkah and Madinah. In…

First case of coronavirus confirmed in Egypt

US arranging meeting between Netanyahu and Saudi crown prince

London’s community of wealthy Middle East property buyers continues to grow

Saudi Arabia pledges full support to Greek Cypriot administration King

Saudi Arabia pledges full support to Greek Cypriot administration

Saudi Arabian Foreign Minister Prince Faisal bin Farhan al-Saud expressed full support for the Greek Cypriot administration amid…

Saudi Cabinet voices support for the territorial sovereignty of Cyprus Government

Saudi Cabinet voices support for the territorial sovereignty of Cyprus

Saudi Arabia has voiced its support for Cyprus’ territorial sovereignty amid growing tensions following the discovery of oil…

How G20 presidency is likely to deliver Saudi economic boost Government

How G20 presidency is likely to deliver Saudi economic boost

Saudi Arabia becoming the first Arab nation to take over the G20 presidency is likely to deliver a…

Saudi Arabia offers ‘full support’ to Cyprus amid Eastern Mediterranean tensions Government

Saudi Arabia offers ‘full support’ to Cyprus amid Eastern Mediterranean tensions

Saudi Arabia’s King Salman received on Sunday the Cypriot Foreign Minister Nikos Christodoulides. They discussed bilateral relations between…

GULF TV

Popular in GULF TV

Saudi Crown Prince Wife|Why Not with him In the Foreign Tour’s

2843 Views

Saudi Crown Prince Wife Princess Sara bint Mashoor, Why Not with him In the Foreign Tour’s. Prince Mohammed…

Latest videos in GULF TV

Events

Lifestyle

Culture

Sport

Science & Technology

Government