{"id":95165,"date":"2025-03-11T00:00:00","date_gmt":"2025-03-11T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2025\/03\/11\/saudi-attracted-usd-22-bn-in-greenfield-fdi-projects-during-2024\/"},"modified":"2025-03-11T00:00:00","modified_gmt":"2025-03-11T00:00:00","slug":"saudi-attracted-usd-22-bn-in-greenfield-fdi-projects-during-2024","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2025\/03\/11\/saudi-attracted-usd-22-bn-in-greenfield-fdi-projects-during-2024\/","title":{"rendered":"Saudi attracted USD 22 bn in greenfield FDI projects during 2024"},"content":{"rendered":"

The value of its <\/strong>announced <\/strong>greenfield FDI projects fell <\/strong>28% y-o-y in <\/strong>202<\/strong>4<\/strong> to USD 22 bn<\/strong>, reaching its third-highest level on record, according to a report (pdf)<\/a> from Emirates NBD. The communications sector led in project value, followed by renewables, metals, and electronic components.<\/p>\n

Top investors: <\/strong>Most of FDI during the year came from China, the UK, US, and UAE. China\u2019s total contribution fell sharply to USD 5.8 bn from USD 17 bn, normalizing after a sharp tick in 2023 that saw several large-scale projects announced. China still accounted for the second and fourth largest investments during 2024, with Zhuoyue New Energy investing USD 3.5 bn in biofuels production, and JinkoSolar allocating USD 1 bn for a solar cell and module plant, according to the report.<\/p>\n

The single largest investment<\/strong> came from the Seattle-based Amazon Web Services\u2019 USD 5.3<\/a>bn<\/a> investment into cloud infrastructure. Meanwhile, the UK\u2019s Vedanta committed USD 2 bn<\/a> for copper projects in the Kingdom.<\/p>\n

Saudi\u2019s FDI push:<\/strong> The Kingdom is targeting USD 100 bn in foreign direct investment<\/a> per year as part of Vision 2030, after averaging USD 17 bn per year between 2017-2022 and managing to bring in an estimated USD 19 bn in 2023.<\/p>\n

REGIONALLY-<\/strong> The GCC saw a 26% y-o-y decline in the total value of greenfield FDI projects in 2024, despite the number of projects announced inching up by around 1%. In terms of total value of projects, Saudi took the top spot, accounting for 54%, followed by the UAE at 36%.<\/p>\n","protected":false},"excerpt":{"rendered":"

The communications sector saw the most love<\/p>\n","protected":false},"author":1,"featured_media":95166,"comment_status":"","ping_status":"open","sticky":false,"template":"","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":[4086,4085,10,4087,2689,31],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-95165","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment-watch","tag-amazon-web-services","tag-emirates-nbd","tag-enterpriseam-ksa","tag-greenfield","tag-investment","tag-investment-watch","wpautop","entry"],"acf":{"mongo_id":"7baeb6a4-47a7-4e24-a904-a579348fdc59","order":"9","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2025\/1\/711.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Saudi Arabia attracted USD 22 bn in greenfield FDI projects during 2024","related_issue":[95149],"teaser":"The communications sector saw the most love","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/3\/.e1af2783-f515-4d42-89f2-a3642fcab097.mp3"},"yoast_head":"\nSaudi attracted USD 22 bn in greenfield FDI projects during 2024 - 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