Public Security chief launches digital vehicle plate wallet service    'Action is in our nature': 4th Saudi Green Initiative Forum to be held at COP16    Pop hit APT too distracting for South Korea's exam-stressed students    Saudi Arabia's inflation rate hits 1.9% in October, the highest in 14 months    Mohammed Al-Habib Real Estate Co. sets Guinness World Record with largest continuous concrete pour    PIF completes largest-ever accelerated bookbuild offering in MENA region    Saudi Arabia signs renewable energy program with Azerbaijan, Kazakhstan and Uzbekistan at COP29    Australia and Saudi Arabia settle for goalless draw in AFC Asian Qualifiers    Human Rights Watch accuses Israel of mass displacement in Gaza amounting to war crime    Thousands of protesters march in Paris ahead of tense football match between France and Israel    Republicans win 218 US House seats, giving Donald Trump control of government    UN sounds alarm at Israel's 'severe violations' at key buffer zone with Syria    Order vs. Morality: Lessons from New York's 1977 Blackout    Saudi, Indian foreign ministers co-chair Cooperation Committee meeting in New Delhi    South Korean actor Song Jae Lim found dead at 39    Don't sit on the toilet for more than 10 minutes, doctors warn    'Marvels of Saudi Orchestra' to dazzle audience in Tokyo on Nov. 22    Saudi Champion Saeed Al-Mouri scores notable feat in Radical World Championship in Abu Dhabi with support from Bin-Shihon Group    Rita Ora is tearful in tribute to Liam Payne at MTV Awards    France to deploy 4,000 police officers for UEFA Nations League match against Israel    Al Nassr edges past Al Riyadh with Mane's goal to move up to third    India puts blockbuster Pakistani film on hold    The Vikings and the Islamic world    Filipino pilgrim's incredible evolution from an enemy of Islam to its staunch advocate    Exotic Taif Roses Simulation Performed at Taif Rose Festival    Asian shares mixed Tuesday    Weather Forecast for Tuesday    Saudi Tourism Authority Participates in Arabian Travel Market Exhibition in Dubai    Minister of Industry Announces 50 Investment Opportunities Worth over SAR 96 Billion in Machinery, Equipment Sector    HRH Crown Prince Offers Condolences to Crown Prince of Kuwait on Death of Sheikh Fawaz Salman Abdullah Al-Ali Al-Malek Al-Sabah    HRH Crown Prince Congratulates Santiago Peña on Winning Presidential Election in Paraguay    SDAIA Launches 1st Phase of 'Elevate Program' to Train 1,000 Women on Data, AI    41 Saudi Citizens and 171 Others from Brotherly and Friendly Countries Arrive in Saudi Arabia from Sudan    Saudi Arabia Hosts 1st Meeting of Arab Authorities Controlling Medicines    General Directorate of Narcotics Control Foils Attempt to Smuggle over 5 Million Amphetamine Pills    NAVI Javelins Crowned as Champions of Women's Counter-Strike: Global Offensive (CS:GO) Competitions    Saudi Karate Team Wins Four Medals in World Youth League Championship    Third Edition of FIFA Forward Program Kicks off in Riyadh    Evacuated from Sudan, 187 Nationals from Several Countries Arrive in Jeddah    SPA Documents Thajjud Prayer at Prophet's Mosque in Madinah    SFDA Recommends to Test Blood Sugar at Home Two or Three Hours after Meals    SFDA Offers Various Recommendations for Safe Food Frying    SFDA Provides Five Tips for Using Home Blood Pressure Monitor    SFDA: Instant Soup Contains Large Amounts of Salt    Mawani: New shipping service to connect Jubail Commercial Port to 11 global ports    Custodian of the Two Holy Mosques Delivers Speech to Pilgrims, Citizens, Residents and Muslims around the World    Sheikh Al-Issa in Arafah's Sermon: Allaah Blessed You by Making It Easy for You to Carry out This Obligation. Thus, Ensure Following the Guidance of Your Prophet    Custodian of the Two Holy Mosques addresses citizens and all Muslims on the occasion of the Holy month of Ramadan    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



FDI flows to Saudi Arabia rise by 7 % to $4.6 billion: UNCTAD
Published in The Saudi Gazette on 17 - 06 - 2020

RIYADH — Foreign direct investment flows to Saudi Arabia increased for the second consecutive year by a further 7 percent to $4.6 billion or more than three times the level recorded in 2017, according to a recently released report by the United Nations' trade body, the UN Conference on Trade and Development.
According to the report issued annually by the organization on foreign direct investment trends around the world, Saudi Arabia formed one of the main destinations for foreign direct investment in the West Asia region, as it captured the majority of inflows regionally last year and early this year before the current economic downturn caused by the coronavirus epidemic.
The report identified improvements in the business environment in the Kingdom as a major driver of this annual growth and highlighted a number of economic reforms that have been carried out last year that had a positive impact on improving the ease of doing business in the country.
The UNCTAD report also included an assessment of the performance of national economies in the face of the pandemic and their responses to reduce the negative effects. It also identified policies and standards for best practices by investment promotion agencies (IPA), highlighting the COVID-19 Response Center (MCRC) of the Ministry of Investment as an example of global best practices in mitigating the financial impact of the pandemic on the private sector.
Commenting on the report, Ayed Al-Otaibi, deputy governor of the Saudi Arabian General Investment Authority for Development of the Investment Environment, praised the positive data in the report, attributing it to the great efforts made by the Kingdom's government and comprehensive reforms programs undertaken that contributed effectively to the positioning of the Kingdom as an attractive destination for global investments. He said that the volume of foreign direct investment in the Kingdom increased significantly during the year 2019 and the beginning of 2020 before the economic and commercial movement worldwide was affected by the repercussions of the pandemic.
Referring to the praise of the MCRC as an example of global best practices, Al-Otaibi pointed to the center established by the Ministry of Investment since the beginning of the crisis and is one of the important indicators of the full seriousness with which the ministry facilitates the process of investment.
It is worth mentioning that the Ministry of Investment recently issued its quarterly report on investment developments, and announced that it issued 348 licenses for foreign investment during the first quarter of 2020, an increase of 19 percent over the same period of 2019, and 20 percent over the last quarter of last year, while the movement of investment activity slowed down in the aftermath of the pandemic.


Clic here to read the story from its source.