Foreign Investment Flows into the Kingdom Exceed National Investment Strategy’s Targets

Kingdom of Saudi Arabia experienced inflows of foreign direct investment worth $1.8 billion, during the 3rd quarter 2021, surpassing the target set for the Year 2021 as a whole, according to the national investment strategy, Jadwa Investment company announced.

Jadwa expected other larger inflows related to Aramco’s sale of a gas pipeline worth $15.5 billion, adding that although the deal was announced in the 4th quarter of 2021, it may be completed in 2022, and it would contribute significantly to achieving the target level of inflows from foreign direct investment in 2022, amounting to $16 billion.

Data for the 3rd quarter of 2021 indicate that the current account maintained a surplus, amounting to $21.7 billion, or 12%, of GDP.

Such a significant annual improvement came thanks to a sharp rise in the trade balance during the quarter, because of an increase in exports by 75%, compared to the same period last year, against an increase in imports by 18%, on an annual basis, Jadwa Investment company concluded.