Media reports picked up on data published by Saudi Arabia this week which showed that 2024 was a record year for foreign direct investment inflows. But this didn’t take account of the fact that there were also large disinvestments, with the result that, on a net basis, FDI slowed. And FDI inflows remained well short of Vision 2030 targets. The sovereign wealth fund is being leant on to drive investments in the Kingdom instead, although a recently-published report by the IMF suggests that this will provide less of a boost to the economy than investment from abroad. That underlines the need for further reforms to improve the business environment.
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