Khalid Al Falih, the Saudi Minister of Investment, highlighted that the pro-investment measures implemented by Saudi Arabia have significantly boosted investment growth, with gross fixed capital formation rising by 74 percent from 2017 to nearly $300 billion in 2023. The recent reforms encompass the introduction of the Civil Transactions Law, Private Sector Participation Law, Companies Law, Bankruptcy Law, and Special Economic Zones. The Foreign Direct Investment (FDI) stock has surged by 61 percent from 2017 to 2023, reaching almost $215 billion in 2023, and FDI inflows have skyrocketed by 158 percent, increasing from $7.5 billion in 2017 to $19.3 billion in 2023.
These initiatives, along with incentives, facilities, and enablers, have encouraged investors to pursue a positive, supportive, and stable investment climate, as reported by the Saudi Press Agency (SPA). The minister further stated: "The law underscores Saudi Arabia's dedication to fostering a welcoming and secure environment for investors, propelling economic growth and strengthening the Kingdom's status as a leading global investment hub." The strategic direction outlined in Vision 2030 enables investors to invest with certainty and expand with confidence during a period of significant market volatility elsewhere. The executive regulations are set to take effect starting in 2025.
