Foreign direct investment in Saudi Arabia exceeds $260bn

The total foreign investment in Saudi Arabia exceeded one trillion riyals ($260 billion) during the third quarter of 2022, according to data released by the Saudi Central Bank (SAMA).

The monthly bulletin issued by SAMA yesterday revealed that foreign direct investment in the kingdom had increase 22.4 billion riyals ($6 billion), compared to the same period last year.

النشرة الإحصائية الشهرية لشهر نوفمبر 2022م.https://t.co/HdE0kKltzE#البنك_المركزي_السعودي

— SAMA | البنك المركزي السعودي (@SAMA_GOV) December 28, 2022

Earlier this month, during one of the sessions of the 2023 Budget Forum, the Saudi Minister of Investment, Khaled Al-Falih, said: “Investment is present in all corners of the Kingdom’s Vision 2030 and one of the pillars of the vision is for the Kingdom to be a major investment power in the world.”

In April, it was reported that a new investment law was being drafted by the Ministry of Investment, aimed at attracting foreign investors. According to Arab News, it will provide equal treatment of local and foreign investors concerned with direct investments. The law also aims to protect intellectual property, confidential commercial information and personal data and provide access to the competent courts or arbitration centres.

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