600 global companies choose Saudi as regional headquarters, investments double to $320 billion: Minister

Saudi Arabia has become a popular location for global companies to establish regional headquarters. According to Saudi Minister of Investment, Engineer Khalid Al-Falih, the number of global companies establishing regional headquarters in Saudi Arabia has now increased to nearly 600. The number of registered investment licenses has also surged from 4,000 in 2018 and 2019 to the current 40,000, demonstrating strong growth momentum.

The total investment amount has also doubled, reaching 1.2 trillion Saudi Riyals (approximately $320 billion USD), accounting for 30% of Saudi Arabia's total economy. Minister Al-Falih emphasized that 72% of this investment comes from the private sector, while the Public Investment Fund (PIF) portfolio and companies account for only 13%. This highlights Saudi Arabia's attractiveness as a global investment destination, benefiting from its favorable economic environment and diversified investment opportunities across various sectors.

Minister Al-Falih further pointed out that the economic reforms under Saudi's "Vision 2030" have enhanced the competitiveness of the local market and attracted numerous large international companies. The rapid growth of foreign direct investment reflects investors' confidence in Saudi Arabia's economy and stability. These positive trends indicate that Saudi Arabia is steadily progressing towards its established economic goals.

During the Third Public Investment Fund Private Sector Forum in Riyadh, Minister Al-Falih shared his insights in a panel discussion entitled "The Government's Role in Promoting Private Sector Development." He elaborated on the role of the private sector in driving national economic growth since the launch of "Saudi Vision 2030," and highlighted the significant improvements in the investment environment. This forum provided an important platform for all parties to exchange ideas and jointly explore the future of Saudi economic development.

Minister Al-Falih emphasized the significant diversification of the Saudi Arabian economy, with non-oil economic activities now accounting for 52% of the gross domestic product. He noted that even during periods when Saudi Arabia reduced oil activities due to production policies, the non-oil sector maintained a positive growth rate of 4% to 5%. Furthermore, the Saudi economy has exceeded 4 trillion Saudi Riyals (approximately $1.1 trillion USD), and foreign investment inflows have reached unprecedented levels of growth. Since the launch of "Saudi Vision 2030," total foreign investment has doubled to 900 billion Saudi Riyals, further demonstrating Saudi Arabia's accelerated progress in achieving its investment and economic goals.