The World Investment Report 2020 issued by the United Nations Conference on Trade and Development (UNCTAD) revealed that the Kingdom of Saudi Arabia is one of the main safe destinations for foreign investment despite the Coronavirus pandemic, disclosing the increase of foreign direct investment flows in Saudi Arabia by 7 percent for the second year in a row to reach to $4.6 billion.
According to the report, the Kingdom formed one of the main destinations for foreign direct investment in the West Asia region, as it captured the majority of the inflows regionally in the past year, before the current economic downturn caused by the epidemic (COVID-10) began.
The report recently identified improvements to the business environment in the Kingdom as a major driver of this annual growth, and highlighted a number of economic reforms that have taken place over the past year that have had a positive impact on improving the ease of doing business in the Kingdom.
The UNCTAD report included an evaluation of the interaction of national economies with the repercussions of the Corona Virus Covid-19 pandemic and its response to reduce its negative effects, and identified policies and standards for best practices by investment promotion agencies (IPA), highlighting the Corona Crisis Response Center (MCRC) of the Ministry of Investment as an example of the best Global practices to reduce the financial impact of the pandemic on the private sector.
Source (Al-Sharq Al-Awsat newspaper, Edited)
