2024-01-21 13:39:31
There was a slowdown only in the first quarter of 2023. Apart from this, the economic growth of Saudi Arabia is strong on an annual basis.
First Published Jan 21, 2024, 5:09 PM IST
Riyadh: Huge increase in foreign direct investment in Saudi Arabia. The country has achieved a four percent increase in 2023 compared to 2022. With this, the total investment has risen to 2.51 lakh crore Rials. The latest figures were released by the Saudi Central Bank. Since 2015, there has been an increase in foreign investment in Saudi Arabia.
Thereafter, growth was evident in all three-month phases. Meanwhile, there was a slowdown only in the first quarter of 2023. Apart from this, the economic growth of Saudi Arabia is strong on an annual basis. In 2015, foreign investment in Saudi Arabia was 1,144 lakh crore riyals. By the end of 2023, foreign direct investment has risen to 2517 lakh crore Riyals. The figures also show that the country is growing by one percent every quarter. This is equivalent to about 15.8 billion riyals.
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Foreign direct investment (FDI) plays a major role in the growth of Saudi Arabia. 41 percent of the total investment is foreign direct investment. Portfolio investments in the country, which include stocks, mutual funds and bonds, also rose to 919.8 billion riyals. As part of Saudi Vision 2030, the kingdom has announced several projects to attract investors.
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Last Updated Jan 21, 2024, 5:09 PM IST
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