Saudi foreign investments achieved a significant increase during the first nine months of 2021 compared to last year.
Al-Eqtisadiah newspaper said that foreign investments increased by 393% compared to the same period last year.
Foreign investments in Saudi Arabia amounted to 65.2 billion riyals ($17.4 billion). This is compared to 13.2 billion riyals ($3.5 billion) in the same period of 2020, an increase of 393%.
Saudi foreign investments
Al-Eqtisadiah pointed out that during the third quarter of this year, investments increased by 6.58 billion riyals ($1.75 billion). This is compared to 4.1 billion riyals ($1.1 billion) during the same period last year.
This increase was by 61% and at a value of 2.5 billion riyals ($670 million), according to data issued by the Saudi Central Bank.
Saudi Arabia aims to increase the net foreign direct investment flowing into the country by 1816% within 10 years by 2030. It aims to reach 388 billion riyals ($103.5 billion) annually by 2030, while it was 20.2 billion riyals ($5.4 billion) in 2020.
The Saudi Ministry of Investment said last November that foreign direct investment flows to the Kingdom rose in the second quarter of 2021 to $1.4 billion.
Minister of Investment Khalid Al-Falih had said in a press statements that the Kingdom will enjoy very high rates of foreign investment in 2021 and the coming years.
He also stressed that his country seeks to raise the value of foreign direct investment on its lands.
The value of the assets of foreign index funds invested in the Saudi stock market amounted to $9.48 billion at the end of the third quarter, in light of the low interest rate, high shares and oil prices, and expectations of a recovery in the Kingdom’s economy.
Non-oil exports in Saudi Arabia also rose to 23.8 billion riyals last October, compared to 19 billion riyals in the same month last year.
The General Authority for Statistics in Saudi Arabia said that non-oil exports rose in October by 25.5%.
The value of non-oil exports decreased by 1.5 billion riyals, or 5.9%, compared to September 2021.
The authority’s data showed an increase in merchandise exports in October 2021 by 90% compared to October 2020. This is because international trade was affected by the travel bans related to the pandemic.