Saudi Arabia's 2023 FDI data reflects success of Vision 2030: Al-Falih

Khalid Al-Falih, Minister of Investment

Saudi Arabia's Minister of Investment, Khalid Al-Falih, stated that the 2023 foreign direct investment (FDI) data clearly demonstrate the success of Vision 2030 in diversifying and growing the economy, creating a world-class investment environment, and offering unprecedented opportunities for investors.

He added that these detailed figures show that the Kingdom’s Vision 2030 and the National Investment Strategy have successfully attracted FDI inflows across the Kingdom for a wide range of economic activities and from different countries around the world.

“As a result of these positive shifts in FDIs, we expect to see more investors entering the Saudi market to take advantage of the country’s economic and investment strength, the stability of its policies, its long-term economic vision, and its solid financial and monetary fundamentals. Additionally, they will benefit from Saudi Arabia's strategic location, which serves as a gateway to growth opportunities throughout the Middle East and beyond,” Al-Falih said.

He continued, “While there is still much work to be done, I am optimistic about the transformation we are witnessing in the Kingdom, which will continue at an accelerated pace. This momentum is being driven by sectoral strategies, including the National Investment Strategy, the catalytic role of the Public Investment Fund (PIF), and the Kingdom’s mega projects."

According to data from Argaam, the Saudi Ministry of Investment announced today that FDI inflows to the Kingdom reached approximately SAR 96 billion in 2023.

In 2023, Saudi Arabia secured leading positions among G20 nations, ranking 11th in terms of net FDI inflows and 16th in FDI stock. The Kingdom also ranked second in net FDI growth rate and fourth in FDI stock growth rate, excluding the Aramco transaction.