Posted 12/9/2023, 7:25:06 PM
Saudi Arabia Pushes Ahead with Reforms to Attract Foreign Investment Despite Recent Slowdown
- Saudi Arabia pursuing reforms to bolster foreign direct investment (FDI) inflows, despite recent deceleration
- FDI declined 21% in Q2 2023, but investment licenses increased 94% year-over-year
- Tax incentives offered for companies to establish regional HQs in Saudi Arabia by 2024
- Reforms over past years strengthened minority investor protections, added VAT, improved trade
- Significant FDI seen in chemicals, real estate, fuels, autos, tourism, plastics, machinery industries