UAE Ranks as Saudi Arabia’s Top Investor in 2023
With USD 4.9 billion invested, the UAE surpassed France and the UK to claim the top spot.
The UAE has emerged as the largest foreign investor in Saudi Arabia for 2023, injecting approximately SAR 18.5 billion (USD 4.9 billion) into various sectors across the Kingdom. According to the latest figures from Saudi Arabia’s Ministry of Investment, UAE’s robust commitment to enhancing cross-border economic ties has positioned it at the forefront of Foreign Direct Investment (FDI) in the Kingdom, capturing nearly 19% of Saudi Arabia's total FDI, which reached a substantial SAR 96 billion (USD 25.6 billion) this year.
The investments span multiple industries, including light industries, real estate, and financial services, each playing a critical role in Saudi Arabia’s Vision 2030 initiative to diversify its economy away from oil dependency. The report from Saudi’s Investment Ministry reveals that light industries led the investment categories, securing SAR 34.4 billion (USD 9.2 billion) — approximately 36% of the total FDI — followed by significant inflows into financial services, construction, and trade sectors.
France ranked as the second-largest investor with SAR 11 billion (USD 2.9 billion), followed by the United Kingdom, the Netherlands, and Egypt.
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