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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
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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.

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Syria to Receive Electricity-generating Ships from Qatar, Türkiye

FILE PHOTO: A view shows electricity pylons in Kiswah, Damascus suburbs, Syria September 8, 2021. REUTERS/Yamam al Shaar/File Photo
FILE PHOTO: A view shows electricity pylons in Kiswah, Damascus suburbs, Syria September 8, 2021. REUTERS/Yamam al Shaar/File Photo
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Syria to Receive Electricity-generating Ships from Qatar, Türkiye

FILE PHOTO: A view shows electricity pylons in Kiswah, Damascus suburbs, Syria September 8, 2021. REUTERS/Yamam al Shaar/File Photo
FILE PHOTO: A view shows electricity pylons in Kiswah, Damascus suburbs, Syria September 8, 2021. REUTERS/Yamam al Shaar/File Photo

Syria will receive two electricity-generating ships from Türkiye and Qatar to boost energy supplies hit by damage to infrastructure during President Bashar al-Assad's rule, state news agency SANA quoted an official as saying on Tuesday.
Khaled Abu Dai, director general of the General Establishment for Electricity Transmission and Distribution, told SANA the ships would provide a total of 800 megawatts of electricity but did not say over what period.
"The extent of damage to the generation and transformation stations and electrical connection lines during the period of the former regime is very large, we are seeking to rehabilitate (them) in order to transmit energy,” Abu Dai said.
According to Reuters, he did not say when Syria would receive the two ships.
The United States on Monday issued a sanctions exemption for transactions with governing institutions in Syria for six months after the end of Assad's rule to try to increase the flow of humanitarian assistance.
The exemption allows some energy transactions and personal remittances to Syria until July 7. The action did not remove any sanctions.
Syria suffers from severe power shortages, with state-supplied electricity available just two or three hours a day in most areas. The caretaker government says it aims within two months to provide electricity up to eight hours a day.