S. Arabia’s investment volume reaches nearly $300b in ’23

Saudi Arabia has seen substantial investment growth due to recent pro-investment measures. Gross fixed capital formation surged by 74 per cent, reaching nearly $300 billion in 2023. Moreover, Foreign Direct Investment (FDI) stock grew by 61 per cent from 2017 to 2023, reaching nearly $215 billion. Additionally, FDI inflows soared by 158 per cent, rising from $7.5 billion in 2017 to $19.3 billion in 2023.

Key reforms include the introduction of the Civil Transactions Law, Private Sector Participation Law, Companies Law, Bankruptcy Law, and Special Economic Zones, according to Khalid Al Falih, the Saudi Minister of Investment.

These developments, supported by incentives, facilities, and enablers, have attracted investors seeking a stable and supportive environment.

“The law reaffirms Saudi Arabia’s commitment to creating a welcoming and secure environment for investors, driving economic growth, and enhancing the Kingdom’s position as a premier global investment destination.” said Al Falih.

Notably, the policy direction outlined in Vision 2030 provides investors with the confidence to invest and grow despite global market volatility. The executive regulations for these reforms are set to take effect in 2025.

Attribution: Emirates News Agency (WAM)