Foreign Investment in Saudi Arabia Increased in the First 6 Months

Foreign Investment in Saudi Arabia Increased in the First 6 Months Foreign investment in Saudi Arabia has increased in the first 6 months of the year. The amount of foreign direct investment in the country increased by 12 percent in half of 2020 compared to last year. Speaking on Saturday, Saudi Arabian Minister of Investment Khalid al-Falih said that in the first six months of 2020, foreign investments increased by 12 percent compared to the same period in 2019. Saudi Arabia, which will host the G20 Leaders Summit this year, is trying to attract more foreign investors in order to realize the "Vision 2030" plan, which aims to reduce the share of oil revenues by increasing economic diversity. “I am delighted to announce that foreign direct investments, which is my field of activity, increased by 12 percent in the first half of the year compared to last year.” Falih said in a statement in September that investments in the country have slowed due to the coronavirus outbreak. Falih also noted that with Saudi Arabia's efforts to attract foreign investors, special economic zones will be opened to specific sectors in 2021. Stating that they will focus on quality as well as increasing investment in quantity, Falih said, "Such investments can provide lower investment volume, but these investments have a greater impact on the economy."