Saudi Arabia Seeks Foreign Investment

Saudi Arabia is on a mission to increase foreign investment. The kingdom just approved a $1.4 trillion regulatory plan to draw more international funds.

This new framework is part of Crown Prince Mohammed bin Salman’s Vision 2030 strategy, aiming to grow sectors beyond oil—like tech, tourism, and sports.

Last year, foreign investments reached 96 billion riyals ($25.6 billion), a big 50% jump from 2022.

But the government has set its sights even higher, targeting $100 billion annually by 2030. For 2024, they’re aiming for $29 billion, which means the second half of the year will be critical for hitting this goal.

To build trust and attract more investors, Saudi Arabia is making deals on multiple fronts.

They recently signed agreements with Qatar to prevent double taxation and with the U.S. to collaborate on civil aviation and space exploration.

They’ve also joined the U.N.’s Cement and Concrete Initiative as part of their climate commitment.

These moves reflect Saudi Arabia’s focus on creating a sustainable, diversified economy while fostering strong ties with regional and global partners.