Saudi foreign direct investment inflows down 85% in second quarter

Saudi Arabia recorded second-quarter foreign direct investment (FDI) flows down 85% year on year, an investment ministry report showed on Tuesday.

The FDI inflows were at 7.9 billion riyals ($2.1 billion) in the second quarter, compared with about 51.9 billion riyals in the same period last year. With the exclusion of the closing of state-owned Saudi Aramco's IPO deal in the second quarter of 2021, the Kingdom's foreign direct investment grew 46.5% year on year. ($1 = 3.7580 riyals)