The Saudi Ministry of Investment said on Tuesday that the foreign direct investment (FDI) inflows into Saudi Arabia rose 10.7% in the third quarter of 2022 over the same period a year earlier.
FDI inflows amounted to 7.2 billion riyals ($1.9 billion) in the third quarter of 2022, according to the Investment ministry’s latest monthly bulletin, compared to 6.5 billion riyals in the third quarter of 2021.
This announcement comes as Riyadh is preparing to launch the second edition of the Financial Sector Conference (FSC 2023), which is organized by the Financial Sector Development Program partners (Ministry of Finance, Saudi Central Bank, and Capital Market Authority).
The event, which will be held on March 15-16 at the King Abdulaziz International Conference Center in Riyadh, will be attended by decision-makers in the financial sector and senior executives in local, regional, and international financial institutions, as well as investors, entrepreneurs, and prominent academics.
Minister of Finance, Chairman of the Financial Sector Development Program Committee, Mohammad Al-Jadaan, told SPA that the second edition of the FSC comes at an important stage in the world, amid efforts to overcome the challenges in the global economy.
He added that Saudi Arabia sought to speed up the implementation of comprehensive structural reforms, including reforms in the financial sector, through strategies, programs and projects that promote sustainable economic growth and raise the quality of life, in accordance with the Kingdom’s Vision 2030.
According to a press release, the FSC 2023 agenda includes a discussion of the key topics on the aspirations and concerns of the financial community. Participants will discuss the challenges and opportunities facing the global economy, supply chain constraints, a changing world order, the protracted pandemic, and other factors causing slow growth in many regions worldwide that affect the financial sector and its ecosystem.