Riyadh –  Investments in non-oil industries in Saudi Arabia jumped to $3.1 billion (SAR 11.63 billion) in the third quarter (Q3) of 2020, compared with $624.2 million (SAR 2.34 billion) a quarter earlier, according to a report released by the Ministry of Investment.

In September, investments of non-oil factories amounted to $2.32 billion (SAR 8.7 billion), the highest value during Q3-20.

Foreign direct investment (FDI) inflows to the Gulf country hit $2.56 billion ($9.59 billion) in the first half (H1) of the year, with the first quarter accounting for $1.61 billion (SAR 6.05 billion).  

According to recent data from the Saudi Central Bank (SAMA) and the UNCTAD, FDI rate in the kingdom rose by 7.9% in H1-20, whereas shrank by 49% globally.

During Q3-20, the investment ministry issued 306 investment licences, an annual increase of 21% and a quarterly surge of 96%.

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