The diversification of economic base is angle in Saudi Arabia's 2030 vision, a goal requiring international investment and launching business sectors.
According to Arab Net, Saudi Arabia recorded three records of foreign direct investment flows for three consecutive years under 2030 vision.
After the figure did not exceed $ 1.4 billion in 2017, almost four times doubled to $ 5.5 billion in 2020. 1278 new investment licenses were issued last year, up 73% from 2018.
The most prominent in what numbers reveals that Saudi Arabia has challenged closing conditions under Corona's pandemic and one of the few states recorded in foreign investment flows last year, more than 20%, compared to a sharp drop of foreign direct investment flows at the global level with a 42% , According to UNCTAD estimates.
The difference attributed by the International Organization to regulatory reforms in the promotion of investment and economic diversification within the framework of 2030 vision, which obviously began to bear fruit, in accordance with UNCTAD.
This growth is accompanied with clear indicators to the success of economic diversification efforts. Investments in non-oil industries recorded a new record in 2020, more than $ 6.1 billion, and in the fourth quarter of 95%, reached 1.56 billion dollars.
This is associated with the direction of many international companies to open branches in the Kingdom or transfer its regional headquarters, including bricks, Franklin Templeton, Bulaeng, Chevron, Google and Ford and others.
