Saudi Arabia Reports 16% Rise in Foreign Investment Amid Economic Review

KSA, 2 May, 2024 : During a session of the Council of Economic and Development Affairs (CEDA), the Ministry of Economy and Planning announced a significant 16% rise in net direct foreign investment inflows for the fourth quarter of 2023 compared to the preceding quarter.

The council convened to review a range of reports on economic developments, both domestically and globally. The discussions highlighted the impact of global economic trends on Saudi Arabia, identifying both risks and opportunities while underscoring the nation's continued economic growth and diversification despite uncertain global economic conditions.

Key points of discussion included the positive performance signaled by the Purchasing Managers' Index (PMI) for March 2024, which showcased increased production and new orders.

Additionally, the council assessed the implementation of its decisions and recommendations, reflecting on achievements and the progress of government entity transactions as part of ongoing governance and development strategies.

Source : www.saudigazette.com.sa