Business · Economy · 14 hrs ago
Saudi Arabia says foreign investment in new sectors rose 162% in five years
Saudi Investment Minister Fahd Al Saif said foreign direct investment in new-economy sectors rose 162% in the past five years.
He spoke at the World Petroleum Congress in Riyadh.
Saudi Arabia is seeking investors across sectors including tourism, advanced manufacturing, logistics, renewable energy and water.
The government says it is building connected industrial hubs, including an automotive cluster in the west and a network of shipping, petrochemical and logistics industries in the east.
Deputy Finance Minister Abdul Mohsen Al Khalaf said non-oil activities now make up 55% of Saudi Arabia’s economy, a first for the country.
He also said non-oil government revenue rose from about 166 billion riyals in 2015 to about 500 billion riyals currently, while unemployment among Saudis fell to about 6%.
Officials say the next stage is to improve the quality and productivity of investment and keep carrying out Vision 2030 reforms.
Saudi Investment Minister Fahd Al-Saif said foreign direct investment in new economy sectors rose 162% over the past five years.
Total fixed capital formation rose 52% over the same period, he said.
Al-Saif said Saudi Arabia now aims to improve the quality and productivity of investment and strengthen the economy’s competitiveness.
He spoke at a session during the World Petroleum Congress in Riyadh.
Deputy Finance Minister Abdulmohsen Al-Khalaf said non-oil activities reached 55% of the kingdom’s gross domestic product for the first time.
- Who
- Saudi Investment Minister Fahd Al-Saif announced the investment figures. Deputy Finance Minister Abdulmohsen Al-Khalaf also spoke about non-oil activity.
- What
- Foreign direct investment in new economy sectors rose 162% over five years, according to Al-Saif.
- When
- The figures cover the five years before Al-Saif’s remarks. He spoke on October 12, 2026.
- Where
- At a session during the World Petroleum Congress in Riyadh, Saudi Arabia.
- Why
- Saudi Arabia aims to attract different kinds of investors and improve investment quality, productivity and economic competitiveness.
This story does not have two clearly opposing sides.
This story does not have a timeline yet.
- Foreign direct investment growth
- 162% in new economy sectors over five years
- Fixed capital formation growth
- 52% over five years
- Energy share
- More than 22% of total fixed capital formation
- Private-sector share
- More than 75% of investment over five years
- Non-oil activities
- 55% of GDP for the first time
Sources
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