Saudi Arabia Foreign Direct Investment Hits $3.49 Billion in Q4 2023

According to the Saudi General Authority of Statistics, Saudi Arabia has seen a significant jump in foreign direct investment (FDI) in the fourth quarter of 2023. FDI net inflows hit $3.49 billion in Q4 2023, up from previous quarters and representing a major boost for the kingdom’s economy.

The report also highlighted a rise in FDI outflows to about 6 billion Saudi riyals, up 17.6% from the previous quarter, indicating an active global investment strategy by Saudi entities. Moreover, the total FDI inflows saw a 16.6% increase, reaching around 19 billion Saudi riyals in the last quarter of 2023, compared to 16 billion Saudi riyals in the third quarter.

Experts believe the surge in FDI as a positive sign for Saudi Arabia’s ongoing efforts to diversify its economy and attract investment.