FDI recorded growth of 9.5%, reaching 7.4 billion SR in the first quarter of 2022

Saudi Gazette Report

Riyadh — According to the Ministry of Investment, foreign direct investment (FDI) recorded growth of 9.5%, reaching 7.4 billion SR ($ 1.97 billion) in the first quarter of 2022 compared to the same period in 2021.

Saudi Arabia has performed well in the world index and was ranked 14th at the level of the G20 countries in the 2021 FDI flow. The ministry said in a statement on its Twitter account.

This statement is based on the findings of the World Investment Report 2022 issued by the United Nations Conference on Trade and Development (UNCTAD). The report reflects the competitiveness of the Saudi Arabian economy and the development of its investment climate.

The ministry noted that the kingdom continues to attract more investment in the light of improving the business environment and facilitating investor travel.

“The flow of foreign direct investment reached 7.4 billion SR, achieving 9.5% growth in the first quarter of 2022 compared to the same period of the previous year.”

Investment Minister Khalid Alfali said earlier that comprehensive investment in the Kingdom had reached 900 billion SR by the end of 2021.

“From the start of Vision 2030 to last year, the flow of foreign investment has quadrupled to reach 72 billion SR. The United States has acquired the largest part of these investments,” Japan said. , Pointed out that there are investment flows from European and East Asian countries.

Al-Falih explained that in addition to the petrochemical and aviation defense sectors, the energy sector is generally an attractive sector for investment, while at the same time the mining sector is very attractive. Still in infancy.

It is worth noting that UNCTAD is part of the United Nations Secretariat dealing with trade, investment and development issues.

The 2022 edition of UNCTAD’s Annual Global Investment Report monitors global and regional FDI trends and shows the development of key national and international investment policies.

The report looks at the recovery of cross-border investment flows from the COVID-19 pandemic, focusing on greenfield investment in selected industries, project finance in infrastructure, and the production activities of the largest multinationals. I am.

The report also reviews recent policy developments, including trends in domestic investment policy measures and international investment agreements. It outlines international corporate tax and domestic investment incentive schemes around the world.