Saudi Arabia’s FDI Stock Rises 13.4% to $238.9 Billion in 2023

RIYADH: Saudi Arabia's foreign direct investment (FDI) stock experienced a significant increase of 13.4 percent, reaching 897.347 billion Saudi riyals, equivalent to USD 238.9 billion, in 2023. This marks a notable rise from 791 billion riyals, or USD 210.06 billion, recorded in 2022. According to Kuwait News Agency, the kingdom's FDI inflow amounted to 96 billion riyals (USD 25.5 billion) in 2023, surpassing the National Investment Strategy (NIS) target of 83 billion riyals (USD 22.10 billion) by 16 percent. The statistics, released by the General Authority for Statistics, also highlighted that the FDI inflow represented 2.4 percent of the gross domestic product (GDP) in 2023, meeting the NIS target. The data underscores Saudi Arabia's growing appeal as a global investment hub, with Vision 2030 programs and sector strategies significantly contributing to the influx of foreign investments. These initiatives have positioned the kingdom as a competitive player on the international stage. In the context of th e G20 countries, Saudi Arabia ranked 11th in terms of FDI net inflow and 16th in cumulative FDI stock for 2023. The kingdom also achieved the second-highest growth rate in FDI net inflow and the fourth-highest growth rate in FDI stock for the year, reflecting its robust investment climate and strategic initiatives.