The Saudi Ministry of Investment revealed that foreign direct investment grew in the first quarter of 2022 by 9.5 percent, compared with the same period of the previous year, it amounted to 7.4 billion riyals, or the equivalent of $1.97 billion.
The ministry indicated that the Kingdom excelled in global indicators and ranked 14th at the level of the G20 countries in foreign direct investment flows for the year 2021, according to the UNCTAD World Investment Report; this reflects the competitiveness of the Saudi economy and the development of its investment environment.
According to the ministry, the Kingdom continues to attract more investments, in light of the improvement of the business environment and the facilitation of the investor's journey; foreign direct investment flows achieved a growth in the first quarter of 2022 by 9.5 percent compared to the same period of the previous year, with inflows of 7.4 billion riyals.
The Saudi Minister of Investment, Khalid Al-Falih, stated that the comprehensive investments in the Kingdom amounted to 900 billion riyals by the end of 2021. He pointed out that foreign investment flows have quadrupled since the beginning of the vision until last year to reach 72 billion riyals, pointing out that the United States acquires the largest share of these investments, as it is the most important in quantity and quality in various sectors.
Source (Al-Arabiya.net Website, Edited)
