Net foreign direct investment in the Kingdom of Saudi Arabia rose to 6.57 billion riyals (about 1.75 billion dollars) in the third quarter of 2021, compared to about 4.08 billion riyals (about 1.09 billion dollars) in the same quarter of 2020, an increase of about 61.15%.
According to an analysis conducted by Al Arabiya.net, on preliminary and estimated data of the Saudi Central Bank, Sama, the Kingdom recorded net foreign direct investments about 65.2 billion riyals ($17.4 billion) during the first nine months of this year, compared to about 13.2 billion riyals ($3.5 billion). In the same period of 2020, an increase of 392.6%.
Foreign direct investment within the economy amounted to 971.82 billion riyals in the third quarter of 2021, compared to 965.25 billion riyals in the second quarter of 2021, and 906.66 billion riyals in the fourth quarter of 2020.
The Saudi Minister of Investment, Khalid Al-Falih, had revealed a huge jump of 60% in foreign direct investment in the kingdom this year, even without calculating the huge Aramco oil pipeline deal.
Al-Falih said on the sidelines of the Future Investment Initiative conference, with a high-level international presence, last October, that foreign direct investment is wonderful this year and we have witnessed a great leap.
Net foreign direct investment in Saudi Arabia witnessed a jump to 51.86 billion riyals (about 13.829 billion dollars) in the second quarter of 2021, compared to 3.098 billion riyals (0.826 billion dollars) in the same quarter of 2020, an increase of about 1574%.
It is noteworthy that the second quarter of 2021 saw Saudi Aramco agree in April 2021 to sell a minority stake in its pipelines for $12.4 billion to a consortium led by EIG, the company's largest deal since a record initial public offering in which it raised $29.4 billion. billion dollars in late 2019.
Net foreign direct investment in Saudi Arabia amounted to about $15.6 billion in the first half of 2021, compared to about $2.4 billion in the first half of 2020, an increase of about 550%.
The year 2020 witnessed a rise in net foreign direct investment in Saudi Arabia to about $5.4 billion, compared to about $4.6 billion in 2019, an increase of about 17.4%.
