FDIs record 'exceptional' performance in 2019, says SAGIA official

13/02/2020 Argaam Special

 

Foreign direct investments (FDIs) to Saudi Arabia increased for the third straight year in 2019, Khaled Tash, deputy governor of marketing and communications at Saudi Arabian General Investment Authority (SAGIA) told Argaam.

 

"Last year, FDIs recorded exceptional performance; meanwhile, foreign investments declined globally for the third year in a row," Tash said, expecting FDIs to Saudi Arabia to grow more than 10% by end of 2019.

 

"Investments growth in the last 2 years was just a start, there is still a lot to do until 2030 to pave the way for the Kingdom to become the first investment hub around the world," Tash added.

 

FDIs increased by 54% year-on-year (YoY) to hit a record of 1,131 new companies in 2019, data compiled by Argaam showed.

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