Saudi Arabia boosts FDI despite global challenges: Al-Falih

Saudi Minister of Investment, Khalid Al-Falih, affirmed that the Kingdom’s 2024 foreign direct investment (FDI) results came amid a global slowdown in investment flows and international economic challenges.

This, he said, reflects Saudi Arabia’s ability to withstand various economic headwinds under an ambitious vision aimed at growth and diversification.

Al-Falih added that last year’s data highlight the success of Saudi Vision 2030 and the National Investment Strategy in attracting high-quality foreign investments from across the globe.

He noted that non-oil FDI accounted for nearly 90% of total inflows for the first time, representing about 4.2% of the non-oil GDP—a level the minister considered satisfactory compared to global benchmarks.

With its strong economic fundamentals and unique strategic location, the Kingdom will continue to strengthen its appeal to foreign investors, the minister said. He stressed the importance of ongoing improvements to the investment ecosystem under the National Investment Strategy, along with related sectoral strategies, to support the pace of rapid growth and economic diversification.

FDI inflows into Saudi Arabia reached SAR 119 billion in 2024, marking a 24% increase compared to SAR 96 billion in 2023.