Foreign direct investments in Saudi Arabia grow by 9.5% in the first quarter of 2022

The Saudi Ministry of Investment said that foreign direct investment grew in the first quarter of 2022 by 9.5% compared to the same period of the previous year and amounted to 7.4 billion riyals, or the equivalent of 1 , 97 billion dollars.

The ministry added in its Twitter account: “The Kingdom shone in global indicators and ranked 14th at the Group of Twenty countries level in foreign direct investment flows for the year 2021, according to the World Investment Report. issued by UNCTAD, reflecting the competitiveness of the Saudi economy and the development of its investment environment. ” .

He stressed that the Kingdom continues to attract more investments, in light of the improvement of the business environment and the facilitation of the investor’s travel; The flows of foreign direct investments recorded an increase in the first quarter of 2022 AD of 9.5% compared to the same period of the previous year, with flows equal to 7.4 billion riyals.

In a previous interview with Al-Arabiya, on the sidelines of the World Economic Forum in Davos, Saudi Investment Minister Khalid Al-Falih said that total investments in the Kingdom amounted to 900 billion riyals by the end of 2021.

Al-Falih said foreign investment flows have quadrupled since the start of the vision until last year, reaching 72 billion riyals, noting that the United States accounts for the largest share of these investments. in how much are the most important for quantity and quality in various sectors.

.vjs-texttrack-settings {display: nobody;}

He pointed out that there are other investments from Japan, Europe and East Asia.

Al-Falih explained that the energy sector in general is an attractive sector for investment, in addition to petrochemicals, as well as the aviation and defense sector, noting at the same time that the mining sector is very attractive but is still in its infancy.

Read More About: Business News