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Despite COVID-19, foreign investment has reached an all-time high

Princess Tarfa

At the end of the year 2020, the foreign investment throughout the Saudi economy was at an all-time high. Data collection done by Okaz newspaper based on the government statistics revealed the fact that the savings almost totaled up to SR2.1 trillion which is the maximum amount throughout the Kingdom's history.

There has been a 9.45 percent growth within only one year. This happened when SR173.25 billion entered the Saudi market in one year. Because of which its market value towards the end of the year 2019 was approximately SR1833.06 billion.

Global assets also increased by SR67.1 billion, or in other words, 3.5 percent, in Q3 2020 as compared to Q3 2020.

Global assets almost increased by 31.75 percent in two years. It showed a total valuation of nearly SR1.52 trillion by the end of the year 2018. The investments which are worth SR483.53 billion managed to reach the Kingdom within two years. The increase in investments eventually followed by the decision of the Ministry of Investment to increase the number of licenses issued to foreign investors.

The number of licenses issued by the ministry to the international investors in Q4 2020 exceeded 466, the largest quarterly increase ever. It contributed to a 52% growth over the previous quarter and a 60% increase over the same timeframe in the year 2019. Meanwhile, 189 investment licenses were authorized in December of last year. The influx of foreign investments suggests that the Saudi economy is doing well, which in turn is stimulating investment activity.

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