Minister of Investment Eng. Khalid Al-Falih announced that the number of global companies establishing their regional headquarters in Saudi Arabia has risen to nearly 600. He noted that the number of registered investment licenses surged from 4,000 in 2018 and 2019 to 40,000 currently, while total investments have doubled to SAR 1.2 trillion, accounting for 30% of the Saudi economy.
He stated, “Seventy-two percent of investments came from the private sector, while the Public Investment Fund’s (PIF) portfolio and companies account for only 13%. This underscores Saudi Arabia’s position as a strong global investment destination, thanks to its attractive economic environment and diverse investment opportunities across various sectors.” He added that economic reforms under Saudi Vision 2030 have enhanced the competitiveness of the local market and attracted major international companies, with the rapid growth in foreign direct investment flows reflecting investor confidence in Saudi Arabia’s economy and stability.
Al-Falih made his remarks during a panel discussion titled “Ministerial Perspective on the Role of the Government to Enable the Private Sector,” held as part of the third edition of the two-day PIF Private Sector Forum in Riyadh. He elaborated on the private sector’s role in driving national economic growth since the launch of Saudi Vision 2030 and highlighted significant progress in the investment environment.
The minister emphasized the notable diversification of Saudi Arabia’s economy, where non-oil economic activities now account for 52% of total GDP. He pointed out that even during periods of reduced oil activity due to the Kingdom’s production policies, the non-oil sector maintained a positive growth rate of 4% to 5%.
Al-Falih also noted that Saudi Arabia’s economy has surpassed SAR 4 trillion (approximately $1.1 trillion), achieving unprecedented growth in foreign investment inflows. Since the launch of Saudi Vision 2030, the total foreign investment stock has doubled to SAR 900 billion, reaffirming the Kingdom’s accelerated progress toward its investment and economic goals.
