عربي English Türkçe اردو فارسى
Logo
Latest News
Business

GASTAT: Net Inflow of FDI in Saudi Arabia at $4.2 Billion in 3rd Quarter of 2024

FILE PHOTO: A drone view shows cityscape in Riyadh, Saudi Arabia - December 1, 2024 REUTERS/Mohammed Benmansour/File Photo
FILE PHOTO: A drone view shows cityscape in Riyadh, Saudi Arabia - December 1, 2024 REUTERS/Mohammed Benmansour/File Photo
TT
20
TT

GASTAT: Net Inflow of FDI in Saudi Arabia at $4.2 Billion in 3rd Quarter of 2024

FILE PHOTO: A drone view shows cityscape in Riyadh, Saudi Arabia - December 1, 2024 REUTERS/Mohammed Benmansour/File Photo
FILE PHOTO: A drone view shows cityscape in Riyadh, Saudi Arabia - December 1, 2024 REUTERS/Mohammed Benmansour/File Photo

The net inflow of foreign direct investment (FDI) in Saudi Arabia amounted to SAR 16 billion ($4.2 billion) during the third quarter of 2024, a decrease of 24% compared to the third quarter of 2023, the General Authority for Statistics (GASTAT) said.

FDI achieved a growth of 37% compared to the second quarter of 2024, which recorded SAR 11.7 billion ($3.1 billion), said statistical data published by GASTAT on Monday.

The volume of inflows amounted to about SAR 18 billion ($4.5 billion) during the third quarter of 2024, a decrease of 21% compared to the third quarter of 2023 which was approximately SAR 22.6 billion ($6 billion).

The volume of inflows recorded a decrease of 8% compared to the second quarter of 2024, which recorded SAR 19.4 billion ($5.1 billion).

The volume of outflows amounted to about SAR 2 billion during the third quarter of 2024, a growth of 27% compared to the third quarter of 2023, where the volume of outflows reached SAR 1.6 billion. While it recorded a decrease of 74% compared to the second quarter of 2024.

Most Viewed

 
Business

Saudi Arabia Strengthens Relations with Danish Private Sector to Boost Bilateral Trade

Saudi Industry Minister strengthens relations with Danish private sector to boost bilateral trade. (SPA)
Saudi Industry Minister strengthens relations with Danish private sector to boost bilateral trade. (SPA)
TT
20
TT

Saudi Arabia Strengthens Relations with Danish Private Sector to Boost Bilateral Trade

Saudi Industry Minister strengthens relations with Danish private sector to boost bilateral trade. (SPA)
Saudi Industry Minister strengthens relations with Danish private sector to boost bilateral trade. (SPA)

Saudi Minister of Industry and Mineral Resources, Bandar Alkhorayef, held a series of bilateral meetings on Friday with leaders of several leading Danish companies in the industry and mining sectors. Discussions covered joint investment opportunities, as well as the enablers and incentives offered by the Kingdom to investors, the Saudi Press Agency reported.
The meetings focused on strengthening cooperation in the industrial and mining sectors between the two sides, with an emphasis on leveraging the strategic opportunities presented by the National Strategy for Industry across its 12 priority sectors that the Kingdom aims to localize and develop. This was discussed alongside the opportunities provided by the comprehensive mining strategy, in line with the objectives of Saudi Vision 2030.
Alkhorayef also met with executives from the pharmaceutical, food, and mining sectors, including FLSmidth, Danfoss, Novo Holdings, Novonesis, and Arla Foods.
The visit reflects Saudi Arabia’s continued efforts to deepen economic partnerships with leading industrial nations and attract global expertise to accelerate the growth and competitiveness of the Kingdom's industrial and mining sectors.