Private sector investments increased to 396 billion riyals

Official data revealed a strong growth of 24.6% for private sector investments in the Saudi economy during the first 9 months of 2021. According to the data of the General Authority for Statistics, the total private sector investments in the first nine months of 2021 amounted to about 396 billion riyals, compared to about 318 billion riyals for the same period. From the year 2020, the volume of foreign investments in Saudi Arabia is more than 2.3 trillion riyals, of which nearly one trillion riyals are direct investments, while the volume of direct investments in 6 months of last year amounted to 65 billion riyals.

This comes at a time when 44 international companies announced at the end of last October that they had chosen Riyadh as their regional headquarters, which the American newspaper neglected. Among the most prominent of these companies are Pepsi, Schlumberger, Deloitte, PwC and Bechtel, in an indication of the optimism about the growth of the Saudi economy.

Global reports, led by the World Economic Outlook report issued by the World Bank two days ago, show that the Saudi economy continues to recover, as the bank raised its expectations for the growth of the Saudi economy during the current year to 4.9% compared to its previous expectations (June 2021) estimated at 3.3%, and attributed this to the recovery of sectors With the acceleration of vaccination campaigns against the Corona virus, which accompanied the rise in oil production and the improvement in global oil prices.


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