{"id":86839,"date":"2024-06-04T00:00:00","date_gmt":"2024-06-04T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2024\/06\/04\/fdi-inflows-tick-up-in-4q-2023\/"},"modified":"2024-06-04T00:00:00","modified_gmt":"2024-06-04T00:00:00","slug":"fdi-inflows-tick-up-in-4q-2023","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2024\/06\/04\/fdi-inflows-tick-up-in-4q-2023\/","title":{"rendered":"FDI inflows tick up in 4Q 2023"},"content":{"rendered":"

Net inflows of foreign direct investment into Saudi grew 32% y-o-y in 4Q <\/strong>2023 to SAR 19 bn<\/strong>, according to Saudi Invest\u2019s Economic and Investment Monitor (pdf)<\/a>. FDI inflows hit SAR 72 bn in 2023, growing 12.1% y-o-y, not including Aramco\u2019s SAR 58.1 bn agreement with BlackRock Real Assets and Hassana Investment in February 2022, according to the report. <\/p>\n

FDI volume is down so far this year:<\/strong> The number of investments in the Kingdom in 1Q 2024 fell 38.5% y-o-y to 64 agreements closed, the report says, citing Investment Ministry data. The quarter saw two fewer agreements closed compared to 4Q 2023, according to the report. Bloomberg<\/a> took note of the downturn in volume.<\/p>\n

The popular sectors:<\/strong> \u201cLooking at economic activities, the distribution of [transactions] shows that innovation and entrepreneurship attracted the most attention from investors in 1Q 2024, with 34 [investments], followed by sports with 12,\u201d the report says. <\/p>\n

Who\u2019s doing business in the Kingdom?<\/strong> The US accounted for the lion\u2019s share of FDI inflows in 1Q 2024, with 11 closed transactions, followed by the UK with five investments. The UAE, Egypt, and Singapore each accounted for three transactions, with the remainder of the volume spread across six unspecified countries. <\/p>\n

BACKGROUND- <\/strong>Saudi is aiming to reel in USD 100 bn of foreign direct investment per year as part of Vision 2030. So far, it\u2019s missing the mark with an estimated USD 19 bn in 2023 and an average of USD 17 bn from 2017-2022, according to Bloomberg. <\/p>\n","protected":false},"excerpt":{"rendered":"

Investment volume is down so far in 2024<\/p>\n","protected":false},"author":1,"featured_media":86840,"comment_status":"","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2616],"tags":[27,10,110,31],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-86839","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment-watch","tag-economy","tag-enterpriseam-ksa","tag-foreign-direct-investment","tag-investment-watch","wpautop","entry"],"acf":{"mongo_id":"9da9c83b-9f9b-496e-9d64-e5f04b32d783","order":"5","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/3\/1610.jpg","photo_position":"above","homepage_title":"","full_issue_title":"FDI inflows tick up in 4Q 2023","related_issue":[86830],"teaser":"Investment volume is down so far in 2024","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/6\/.80137d02-c482-48cd-8700-03f0b502cfe2.mp3"},"yoast_head":"\nFDI inflows tick up in 4Q 2023 - 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