Foreign investment in Saudi more than doubled in 2018

By December 20, 2018News

Foreign investment in Saudi Arabia more than doubled in 2018 to SAR13 billion ($3.5bn).

Foreign investment in 2018 rose 110 percent from the previous year. This is partly due to the expansionary budget the government implemented this year and recently announced, the budget will remain expansionary and increase by another 7 percent in 2019.

The government aim to generate SAR35bn to SAR40bn from non-oil related revenue from the privatization program and create 12,000 jobs. Included in the privatization program is the public-private partnerships being created to build and operate infrastructure and asset sales.

The government have made attracting foreign investors a cornerstone of the Vision 2030 objectives.

Crown Prince Mohammed bin Salman also announced that the delayed Saudi Aramco IPO will still continue.