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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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Oman LNG Delivers First Shipment to Shell

A glimpse of the first LNG shipment delivery to Shell at the industrial complex in Sur, Oman (Oman News Agency)
A glimpse of the first LNG shipment delivery to Shell at the industrial complex in Sur, Oman (Oman News Agency)
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Oman LNG Delivers First Shipment to Shell

A glimpse of the first LNG shipment delivery to Shell at the industrial complex in Sur, Oman (Oman News Agency)
A glimpse of the first LNG shipment delivery to Shell at the industrial complex in Sur, Oman (Oman News Agency)

Oman LNG on Tuesday announced the successful loading of its first liquefied natural gas (LNG) cargo to Shell under its new long-term agreements, marking a significant milestone in the company’s strategy to expand its global market reach and reinforce Oman’s position as a leading LNG supplier.
According to Oman News Agency, the ceremonial event took place at Oman LNG’s state-of-the-art facility in Sur, under the auspices of Salim al Aufi, Minister of Energy and Minerals, alongside senior officials from Oman LNG and Shell.
Aufi, in his remarks, emphasized the importance of this milestone, saying, “Today’s shipment is not merely a delivery but a testament to Oman’s commitment to energy security, global collaboration, and sustainable economic growth. It also reflects the strong partnership between Oman LNG and Shell, built on mutual trust and a shared vision.”

Shell, as the largest offtaker under these new agreements, plays a pivotal role in Oman LNG’s strategic plans for sustained growth and market expansion.

Oman LNG’s CEO, Hamad al Naamany, highlighted the significance of this shipment, saying, “We are embarking on a 10-year concession extension with market leaders in LNG and energy. Our growth is aligned with Oman’s vision and adapted to the evolving global energy market demands. Our partnership with Shell continues to thrive, contributing to Oman’s economic diversification goals.”