Direct foreign investment in Saudi rose to a decade-high on first 9 months of 2019


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Direct foreign investment in Saudi rose to a decade-high on first 9 months of 2019

On Sunday, the 19th of January 2020, the Monetary Authority of Saudi Arabia had issued a public statement saying that influx of direct foreign investment in to the Kingdom of Saudi Arabia surged more than 10 per cent to $3.50 billion during the first nine months of 2019, compared to a figure of $3.18 billion in 2018 on a year-on-year basis, remarking the largest total in direct foreign investment in to the country in more than a decade.

Aside from that, the Kingdom’s General Investment Authority, a Government agency which had primarily focused on encouraging foreign investment and reportedly answered only to the Saudi Crown Price Mohammed bin Salman, was quoted saying on Sunday (January 19th) that a stark figure of 1,130 foreign entities had established their holdings in to Saudi Arabia last year, an intransigent increase of more than 54 per cent compared to the same time a year earlier.

In point of fact, Sunday’s (January 19th) upbeat data on direct foreign investment in to the Middle East oil mammoth, Saudi, world’s second-largest crude oil producer after the United States, came forth as the Saudi Crown Prince Mohammed bin Salman has been betting heavily on a robust rise of foreign investment in to the country as a centrepiece of his “Vision 2030” plan.