Economy Saudi reforms aim to attract $3.79 trillion in investment by 2030 By Pramod Kumar August 9, 2022, 5:14 AM Supplied: Tadawul FDI inflows surged 257% year-on-year in 2021, driven by a SAR 46.5 billion infrastructure deal closed by Saudi Aramco Saudi Arabia has passed over 600 economic reforms designed to attract SAR 12.4 trillion ($3.3 trillion) of cumulative investment and SAR 1.8 trillion in foreign direct investment inflows between 2021 and 2030, Saad Al-Shahrani, acting deputy minister for investment promotion in the Ministry of Investment, told Arab News. The reforms are part of Saudi Vision 2030, which aims to diversify the kingdom’s economy away from its dependence on hydrocarbon revenues. FDI inflows surged 257 percent year-on-year in 2021, driven by a SAR 46.5 billion infrastructure deal closed by the Saudi Exchange-listed Saudi Aramco with a global investor consortium in Q2 2021. FDI increased 10 percent to SAR 7.4 billion in the first quarter of 2022, compared to the previous year, the report said. Register now: It’s easy and free AGBI registered members can access even more of our unique analysis and perspective on business and economics in the Middle East. Why sign uP Exclusive weekly email from our editor-in-chief Personalised weekly emails for your preferred industry sectors Read and download our insight packed white papers Access to our mobile app Prioritised access to live events Register for free Already registered? Sign in I’ll register later
