The rate of foreign direct investment in the Kingdom of Saudi Arabia increased by 7.9 percent during the first half of 2020, to reach 2.56 billion dollars, compared to 2.37 billion dollars, this is according to a report issued by the Saudi Ministry of Investment, which revealed a 49 percent decrease in the global foreign direct investment rate, based on the latest data from the Saudi Central Bank and UNCTAD.
According to the Saudi Ministry of Investment, 306 investment licenses were issued during the third quarter of 2020, an annual increase of 21 percent and a quarterly increase of 96 percent. It indicated that 68 percent of the licenses were for projects with full foreign ownership, and 32 percent of the licenses were for joint projects with Saudi companies.
India and Egypt acquired the largest number of new foreign projects in the third quarter with 30 projects each, followed by the United Kingdom and Lebanon with 16 projects each, Syria, Yemen and Pakistan with 15 projects each, Jordan and France 11 projects each, in addition to 10 projects for the United States. The emerging sectors acquired the largest number of new projects with 110 projects, this was followed by the industrial and manufacturing sector, with 53 projects, retail and e-commerce 27 projects, and 26 projects in the communications and information technology sector, in addition to other sectors.
Source (Al-Arabiya.net, Edited)
