MBS 100b Investment Huat Big Big Hah, Boss Syed Kym?

[k1976]

Saudi Crown Prince MBS’ $100 Billion Foreign Investment Quest Falters​

Top oil exporter rethinks priorities as it carries a bigger spending burden for megaprojects.

Project renderings at the NEOM pop-up store during the World Economic Forum in Davos.Photographer: Stefan Wermuth/Bloomberg
By Christine Burke, Sam Dagher, and Zainab Fattah
April 4, 2024 at 12:00 PM GMT+8

At a gleaming white hangar on Saudi Arabia’s western coast last year, the kingdom’s business and political elite gathered to applaud one of Crown Prince Mohammed bin Salman’s riskiest bets yet.

The first electric cars assembled in Saudi Arabia with Lucid Group Inc. twinkled under factory spotlights, designed to show the world how a kingdom built on oil could draw in foreign capital to become a global hub for the industries of future.

 

[k1976]

Saudi Arabia sees investment surge from China, according to Emirates NBD​

Money pouring into the kingdom from the world's second-biggest economy is up more than tenfold from the previous year

Traffic in downtown Riyadh at sunset.
By
Kelsey Warner
March 29, 2024
SHARE



China is emerging as Saudi Arabia’s most active foreign investor amid a flood of new projects aimed at turbocharging non-oil economic growth in the kingdom. The world’s second-largest economy accounted for 58% of new business investments — primarily focused on automotive, metals and semiconductor investments — in Saudi Arabia in 2023, with $16.8 billion invested. That figure is up more than tenfold from $1.5 billion the previous year, according to new data from Dubai-based Emirates NBD.

Saudi Arabia, the Arab world’s largest economy, is still trailing its target of attracting $100 billion in foreign direct investment (FDI) by 2030 as de facto ruler Crown Prince Mohammed bin Salman looks to boost non-oil GDP and diversify the economy. But 2023 showed signs of progress: foreign investment into new business in Saudi Arabia more than doubled to $28.8 billion last year, according to Emirates NBD, surpassing the 2018 peak of $17.6 billion but shy of the 2008 record of $34.3 billion.

The influx in foreign capital comes as Gulf economies are increasingly turning East to China and India, one of the fastest growing economies, for opportunity. Saudi Arabia and the UAE have been invited to join the BRICS economic alliance, which analysts have predicted will increase China’s power and influence in the MENA region. Still, the U.S. was runner-up: pouring $2.7 billion into Saudi Arabia, mostly in software and IT, and a 238% increase over the previous year. The UAE came in third, its investments primarily focused on renewable energy.

This week the kingdom’s Minister of Culture, Prince Badr bin Abdullah, visited Beijing, where he signed a flurry of agreements with his Chinese counterpart to boost collaboration. Museums, cultural heritage, theater,

 

[k1976]

Skip to main content
Business

Government Incentives Increase Saudi Arabia’s Foreign Investment Flows​

The Saudi market constitutes an attractive investment environment for international companies. (Photo: Reuters)

• Riyadh: Asharq Al Awsat

07:04-29 March 2024 AD ـ 19 Ramadan 1445 AH
TT


Figures of net foreign direct investment (FDI) flows published in the fourth quarter of 2023, which amounted to about 13 billion riyals ($3.4 billion), indicate that the Saudi government succeeded in creating a flexible investment environment in accordance with global standards.
Foreign direct investment flows recorded very high levels in the fourth quarter, according to the figures of the General Authority for Statistics (GASTAT). Those amounted to around SAR 19 billion ($5 billion), with an increase of 16.6 percent compared to the third quarter of 2023.
The Saudi government has recently presented a package of new tax incentives for a period of 30 years to support the program to attract the regional headquarters of international companies, including exemption from income tax.

Economic analyst at King Faisal University Dr. Mohammad bin Dulaim Al-Qahtani told Asharq Al-Awsat that the flow of foreign investment into the country was expected to exceed SAR50 billion in the fourth quarter of 2026, with the completion of the infrastructure for a number of giant projects, including NEOM, the Red Sea tourism projects, and others.

He said the Kingdom will witness a major development as the Saudi economy has multiple resources, including oil, gas, minerals, gold, cultural and religious tourism, as well as sports and non-oil industries.
Dr. Salem Bajajah, an academic at King Abdulaziz University, said that the Saudi market is attractive for investment in several promising sectors, including tourism, entertainment, sports, and nutrition.
He attributed the increase in foreign direct investment flows in the Kingdom to companies making several lucrative returns, in addition to the government incentives that turn the investment environment attractive to international companies.

 

[k1976]

https://m.jpost.com/breaking-news/article-794208​

​

Saudi Arabia reports surge in foreign investments for Q4 2023​

By THE MEDIA LINE STAFF Published: MARCH 28, 2024 16:43
Saudi Arabia has witnessed a significant surge in foreign direct investment (FDI) net inflows, hitting 13.1 billion Saudi riyals ($3.49 billion) in the fourth quarter of 2023, the Saudi General Authority of Statistics reported on Thursday. This marks a robust 16% growth from the third quarter's 11 billion Saudi riyals.

The report also highlighted a rise in FDI outflows to about 6 billion Saudi riyals, up 17.6% from the previous quarter, indicating an active global investment strategy by Saudi entities. Moreover, the total FDI inflows saw a 16.6% increase, reaching around 19 billion Saudi riyals in the last quarter of 2023, compared to 16 billion Saudi riyals in the third quarter.

This financial uptick aligns with Saudi Arabia's broader economic goals, underlining the success of its initiatives to attract more international capital as part of its Vision 2030 plan to diversify the economy away from oil dependency. These figures reflect the kingdom's ongoing efforts to create a more investor-friendly environment, drawing global businesses and entrepreneurs to its burgeoning market.

 

[syed putra]

Saudi Arabia sees investment surge from China, according to Emirates NBD​

Money pouring into the kingdom from the world's second-biggest economy is up more than tenfold from the previous year

Traffic in downtown Riyadh at sunset.
By
Kelsey Warner
March 29, 2024
SHARE



China is emerging as Saudi Arabia’s most active foreign investor amid a flood of new projects aimed at turbocharging non-oil economic growth in the kingdom. The world’s second-largest economy accounted for 58% of new business investments — primarily focused on automotive, metals and semiconductor investments — in Saudi Arabia in 2023, with $16.8 billion invested. That figure is up more than tenfold from $1.5 billion the previous year, according to new data from Dubai-based Emirates NBD.

Saudi Arabia, the Arab world’s largest economy, is still trailing its target of attracting $100 billion in foreign direct investment (FDI) by 2030 as de facto ruler Crown Prince Mohammed bin Salman looks to boost non-oil GDP and diversify the economy. But 2023 showed signs of progress: foreign investment into new business in Saudi Arabia more than doubled to $28.8 billion last year, according to Emirates NBD, surpassing the 2018 peak of $17.6 billion but shy of the 2008 record of $34.3 billion.

The influx in foreign capital comes as Gulf economies are increasingly turning East to China and India, one of the fastest growing economies, for opportunity. Saudi Arabia and the UAE have been invited to join the BRICS economic alliance, which analysts have predicted will increase China’s power and influence in the MENA region. Still, the U.S. was runner-up: pouring $2.7 billion into Saudi Arabia, mostly in software and IT, and a 238% increase over the previous year. The UAE came in third, its investments primarily focused on renewable energy.

This week the kingdom’s Minister of Culture, Prince Badr bin Abdullah, visited Beijing, where he signed a flurry of agreements with his Chinese counterpart to boost collaboration. Museums, cultural heritage, theater,

Probably tax free environment. Plus cheap energy. And lies just next to europe if from the red Sea. Or even linked by train soon if china builds one.

 

[k1976]

Probably tax free environment. Plus cheap energy. And lies just next to europe if from the red Sea. Or even linked by train soon if china builds one.

Saudi ish G20 and a major regional power

 

[k1976]

I think there are quite a number of Arabian DNA traces on Fujian due to extensive sea trade past