Saudi FDI inflows hit SR122 billion in 2022, inserting tenth amongst G20

by ADeeL

Saudi Gazette report

RIYADH — The international direct funding (FDI) flows into Saudi Arabia amounted to SR122 billion ($33 billion) throughout the yr 2022, and this locations the Kingdom on the tenth rank among the many G20 economies final yr. This determine was nearly double to the worth of FDI inflows in 2015 that accounted for SR64 billion ($17 billion).

These up to date figures come as a correction to what was printed beneath the earlier report, which estimated them at about SR30 billion ($8 billion). That is throughout the framework of a brand new methodology for counting and publishing information that the nation adopted throughout final month.

The brand new methodology, accredited by the Worldwide Financial Fund (IMF), depends on analyzing monetary statements to succeed in extremely correct annual statistics, in comparison with the earlier methodology, which relied on calculating the buildup of flows primarily based on estimates.

Minister of Funding Eng. Khalid Al-Falih stated that the Kingdom is dedicated to creating an funding surroundings that’s thought of as the most effective on this planet in all points, together with engaged on a clear and world-class methodology for compiling and calculating international direct funding statistics. “Buyers are getting into the Saudi market with confidence, as a result of the Kingdom’s financial system is the most important within the Center East and the Arab world, and it’s one among the many 20 largest economies on this planet. The Saudi market is characterised by speedy development and strategic location, which supplies a wonderful platform for accessing lively and rising markets all through the Center East and past,” he added.

The Ministry of Funding introduced that, beneath the brand new, extra correct methodology, the steadiness of international direct funding reached SR775 billion ($207 billion) in 2022, which locations the Kingdom on the16th place among the many economies of the G20 nations. This represents a downward correction of the info that was estimated, beneath the earlier methodology, about SR1 trillion ($269 billion), which precisely displays, by the up to date figurers, the truth of international direct funding within the Saudi financial system, and confirms the extent of transparency adopted by the Kingdom in calculating its indicators.

The brand new methodology and up to date figures for international direct funding got here after about 18 months of joint work between the Ministry of Funding, the Normal Authority for Statistics (GASTAT), and the Saudi Central Financial institution (SAMA), and after making certain that they had been in keeping with worldwide greatest practices, represented by the Steadiness of Funds and Worldwide Funding Place Information, issued by the Worldwide Financial Fund.

Regardless of the influence of the Covid-19 pandemic, the up to date information confirmed a constructive and rising improve within the steadiness and flows of international direct funding within the Kingdom because the launch of Imaginative and prescient 2030”. It’s noteworthy that the entry to high-quality information is crucial for monitoring funding efficiency, which represented about 25 % of the Kingdom’s gross home product (GDP) in 2022, and is predicted to succeed in 30 % by 2030.

Source link

You may also like

Leave a Comment