FINANCIAL NEWS

KSA plans to double FDI flows by inviting non-oil foreign investors

25 Jan 2016

(MENAFN) Saudi Arabia aims to double yearly inflows of foreign investment through the 10 years by concentrating on new sectors like mining, healthcare and information technology.

Furthermore, the plan is part of a major revamp of economic policy as the Kingdom seeks to adapt to an area of cheap oil, whereas the drop of oil prices called that plan into question.

Inflows of FDI reached almost USD 40bn in 2009 but have been trending down since then and totaled only USD 8bn in 2014, according to numbers from the UN Conference on Trade and Development.

In addition, the investment push is part of a huge economic reform drive, while details of the program involves privatization, changes to the way in which KSA manages its oil wealth.

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