Saudi FDI Stock Up 13.4 Pct To USD 238.9 Bln In '23 - Statistics

10/23/2024 5:12:51 AM

(MENAFN- Kuwait News Agency (KUNA)) RIYADH, Oct 23 (KUNA) -- Saudi Arabia's direct foreign investment (FDI) stock increased by 13.4 percent to 897.347 billion Saudi riyals (USD 238.9 billion) in 2023, compared with 791 billion riyals (USD 210.06 billion) in 2022, according to the kingdom's General Authority for Statistics.
FDI inflow into the kingdom amounted to 96 billion riyals (USD 25.5 billion) in 2023, exceeding the National Investment Strategy (NIS) target of 83 billion riyals (USD 22.10 billion) by 16 percent, showed the authority's statistics on Wednesday.
The kingdom's FDI inflow reached 2.4 percent of gross domestic product (GDP) in 2023, achieving the NIS target, it said.
The data demonstrate clear momentum for the kingdom as a globally attractive investment destination, with Vision 2030 programs, sector strategies, and initiatives playing a key role in attracting more foreign investments from around the world.
Compared to other G20 countries, Saudi Arabia ranked 11th in terms of FDI net inflow and 16th in terms of cumulative FDI stock in 2023. Additionally, Saudi Arabia ranked second in terms of FDI net inflow growth rate in 2023, and 4th in terms of FDI stock growth rate for the same year. (end) kns

MENAFN23102024000071011013ID1108809956

Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.