Saudi Arabia’s FDIs reach SAR 65 bln in Q3 2021: official

Thamir Al-Sadoun, CEO of National Transformation Program

The Kingdom’s foreign direct investment (FDI) flows increased from SAR 17.11 billion in 2019 to SAR 65 billion by the end of the third quarter of 2021, said Thamir Al-Sadoun, CEO of National Transformation Program.

During a meeting hosted by the Asharqia Chamber on June 9, Al-Sadoun highlighted the program’s most prominent initiatives and achievements over the last period, as well as some of its economic goals and the actual performance of the private sector.

The business community's satisfaction with government communication channels increased to 94% in 2021, the CEO said.

He pointed out to the program’s most important achievements, including empowering the private sector, attracting investments, facilitating doing business, as well as increasing the number of small and medium-sized enterprises (SMEs) .This also includes supporting promising sectors, and increasing the contribution of productive families to economy, and attracting foreign and domestic investments.

Elsewhere, Al-Sadoun said the program seeks to achieve 34 out of 96 strategic goals of Vision 2030, which represents more than 35% of the total goals, including facilitating doing business, developing the retail sector, supporting national companies to enhance their global leadership, and boosting companies' interest in the national economy sustainability.