Saudi Arabia: Greenfield FDI inflows rose 110% y/y in 2023

Saudi Arabia’s greenfield FDI inflows surged by more than 110% to USD 28.78bn in 2023. The greenfield FDI inflows have surpassed the 2018 high of USD 17.57bn but remain shy of the 2008 record of USD 34.26bn. Riyadh captured the largest share of the total greenfield FDI inflows, receiving USD 8.18bn, followed by Ras Al-Khair with USD 4.23bn and Dammam with USD 772mn. The number of greenfield FDI projects reached a new record, increasing by 65% y/y to 359 projects.

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