Saudi Investment Minister Khalid Al-Falih indicated that most investment indicators surpassed their targets in 2023 under the Saudi Vision 2030. Al-Falih stated via "X" that the indicators achieved record numbers, including fixed capital formation, foreign investment reserves, the number of investment licenses, and regional headquarters, resulting in significant jumps in the Kingdom's global competitiveness rankings.
He accompanied the post with a chart showing that foreign direct investment flows reached about 72 billion riyals in 2023, tripling compared to 2017. Additionally, the foreign direct investment stock reached 808 billion riyals, with an annual growth rate of 6 percent. The total fixed capital formation achieved its highest level ever at 1.1 trillion riyals, exceeding the target of the National Investment Strategy for 2023, with a 9 percent annual growth from 2022. Furthermore, fixed capital formation constituted 28 percent of the GDP, while the National Investment Strategy aims for 30 percent by 2030.
