Saudi Arabia records a 51% increase in FDI in 2019

Monday, 20 January 2020 09:52

Foreign Direct Investment (FDI) to Saudi Arabia rose to $3.50 billion in the third quarter of 2019 compared to $3.18 billion a year ago.

That's according to the Investment Highlights Winter 2020 report by the Saudi Arabian General Investment Authority (SAGIA).

It said more than 1,130 international companies set up operations in Saudi Arabia in 2019, marking a 54 per cent increase compared to the previous year.

India, Egypt, Jordan and China are among the top countries represented in the report.

India's share of the market increased to 140 in 2019, which was driven by the high-profile royal visits to the country in February last year.

More from Business

Abu Dhabi aims for 80% local materials in housing projects

Abu Dhabi plans to increase the use of locally manufactured building materials in housing developments to as much as 80 per cent under a new agreement between two government entities.
UAE Central Bank support package reaches AED 6.2 billion

The Central Bank of the UAE (CBUAE) has announced the key outcomes of its comprehensive support package designed to strengthen the resilience of financial institutions.
Dubai Holding picks 15 scale-ups from 1,400+ applicants for sustainability challenge

Dubai Holding, a diversified global investment company with investments in more than 30 countries, has announced the 15 bold scale-ups selected for its 'Innovate For Tomorrow' impact accelerator programme.
ADNOC backs UAE's AED1 billion National Industrial Resilience Fund

ADNOC has become the first partner to support the UAE Cabinet's newly announced AED1 billion National Industrial Resilience Fund (NIRF) following a trilateral agreement signed at the 'Make it in the Emirates' 2026.