Saudi Press: Saudi Economy Makes Remarkable Progress in 2021

Riyadh, January 25, 2022, SPA -- Saudi newspapers highlighted in their editorials today a number of issues at local, regional and international arenas. Al-Eqtisadiah newspaper reported in its editorial that the Saudi economy is witnessing historical transformations and development by shifting to increase the non-oil revenues along with oil revenues. The paper said that the foreign direct investment (FDI) inflows in Saudi Arabia reached a record level in 2021, amounted to $23 billion, with an increase 326%, compared to $5.4 billion in 2020, the paper said. In 2021, FDI inflows in Saudi Arabia exceeded the total of the three past years which valued $14.2 billion, according to published report by Al-Eqtisadiah, quoting data from United Nations Conference on Trade and Development (UNCTAD) and the Saudi Central Bank (SAMA). Saudi Arabia is one of the forward-looking economies, with its unique investment opportunities, while FDI inflow confirms the stability of the economic, political, social, and legislative situations, the paper concluded. -- SPA