Saudi Arabia has already surpassed its 2030 target for attracting regional headquarters (RHQs) and recorded a 24% surge in foreign direct investment (FDI) in 2024, according to statements from Khalid Al-Falih, the Minister of Investment. The figures signal the rapidly accelerating pace of the Kingdom’s efforts to position itself as a leading global business and investment hub.
Surpassing Regional Headquarters Target
The Ministry of Investment has successfully attracted 660 international companies to establish their regional headquarters in the Kingdom, exceeding the initial Vision 2030 goal of 500. Minister Al-Falih highlighted the strong momentum, stating that the ministry is currently issuing licenses for 10 to 12 new RHQs every month. He projected that the total number of headquarters would surpass 1,000 within a few years.
A 24 Percent Surge In Foreign Direct Investment
Citing figures from the General Authority for Statistics, the Minister revealed that FDI inflows into the Kingdom reached 119 billion SAR in 2024, a significant 24% increase from the 96 billion SAR recorded in 2023. This robust growth stands in sharp contrast to a 10% decline in global FDI flows during the same period. The total stock of foreign direct investment in Saudi Arabia also rose by 9% to reach 977 billion SAR in 2024.
Future Investment Pipeline Exceeds 500 Billion SAR
The number of registered foreign companies operating in Saudi Arabia has leaped from 5,000 at the beginning of the Vision 2030 program to 52,000 today. According to a survey conducted by the Ministry, a sample of these companies has indicated plans to invest over 500 billion SAR in the Kingdom over the next five years. Minister Al-Falih emphasized that these companies will act as catalysts, driving growth across the entire Saudi economic ecosystem through local, regional, and global investments.
About The Ministry of Investment
The Ministry of Investment of Saudi Arabia (MISA) is the primary government body responsible for promoting and facilitating domestic and foreign investment in the Kingdom. It plays a central role in realizing the economic diversification goals of Saudi Vision 2030 by improving the business environment, attracting value-added investments, and supporting investors throughout their journey.
Source: Rowad Al Aamal
