Riyadh – Sharikat Mubasher: Saudi Arabia attracted nearly SAR 21.9 billion ($5.84 billion) in foreign direct investment (FDI) during the fourth quarter of 2024, marking a significant surge in inflows.

According to data from the Saudi Central Bank (SAMA), this increase follows a positive trend, with FDI flows rising for the third consecutive quarter, up 37.2% compared to Q3 of the same year.

The Kingdom’s efforts to drive foreign investments have been supported by a recently updated investment law aimed at streamlining procedures, enhancing transparency, and encouraging private sector involvement. The new system, which will come into effect in early 2025, is expected to ease restrictions, resolve disputes, and create a more competitive environment, further boosting the appeal of Saudi Arabia as an investment destination.

This surge in investment coincides with a growing number of foreign companies establishing their headquarters in Saudi Arabia, led by the abundance of investment opportunities, particularly in the privatization sector. The country also saw a 67.5% increase in foreign investment licenses, totaling 14,300 for the year.

Saudi Arabia’s growing FDI landscape is a clear indication of its commitment to creating a more attractive environment for global investors, aligning with the broader objectives of economic diversification under Vision 2030.