Saudi Arabia`s Ministry of Investment recently released updated statistics detailing foreign direct investment (FDI) into the Kingdom. The new methodology is preferred by the International Monetary Fund (IMF) and endorsed by the United Nations Conference on Trade and Development (UNCTAD). It analyses individual financial statements to provide highly accurate annual statistics.
The new system was introduced after 18 months of collaboration between the Ministry of Investment, the General Authority for Statistics (GASTAT) and the Central Bank of Saudi Arabia (SAMA). As a result, the new methodology aligns with international best practices, represented by the IMF’s Balance of Payments and International Investment Position Manual.
As part of the process, data was analysed from more than 10,000 individual foreign companies comparing over 70,000 financial statements between the period of 2015 to 2022. As a result, the new methodology recorded FDI at SAR 775 billion (USD 207 billion) in 2022. This reflects a growing inflow of foreign direct investment (FDI) in the Kingdom since the launch of Saudi Arabia’s Vision 2030 and despite the impact of COVID-19.
The Kingdom is committed to creating a best-in-class investment ecosystem in all aspects. As a result, investors are entering the fast-growing Saudi market with confidence due to its size and strategic position, which provides an excellent platform to access growth opportunities across the Middle East and beyond.
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Please click on the link to learn more about opportunities and possibilities in Saudi Arabia as well as the initiatives of Business Start Up Saudi Arabia.
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