The kingdom hopes to attract $100 billion in foreign direct investment by 2030 to boost non-oil gross domestic product as part of a broader strategy by Crown Prince Mohammed bin Salman to diversify the economy away from heavy reliance on crude oil exports.
Foreign direct investment is still far from those goals. With the latest data, net flows last year totaled $11.4 billion.
According to data from the General Authority for Statistics in Saudi Arabia, the value of foreign direct investment flows into the Kingdom’s economy amounted to about 19 billion riyals (about 5 billion dollars) in the fourth quarter, an increase of 16.6 percent compared to the third quarter of the same year, which amounted to about 16 billion riyals.
As for the value of foreign direct investment flows out of the Kingdom’s economy, it amounted to about 6 billion riyals, an increase of 17.6 percent compared to the third quarter of the same year, which amounted to about 5 billion riyals.
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