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Saudi Arabia’s foreign direct investment (FDI) in the first quarter of 2023 grew year-on-year by 10.3 percent to 8.1 billion riyals ($2.16 billion), according to the Saudi Ministry of Economy and Planning on Wednesday.
The kingdom attracted foreign direct investment of about 29.6 billion riyals ($7.9 billion) over the past year 2022, compared to 72.3 billion riyals ($19.28 billion) in 2021.
The country aims to attract $100 billion foreign investment by 2030, according to a previous statement by the Undersecretary of the Ministry of Investment, Saad Al-Shahrani, during an interview with Al Arabiya.
