The value of total foreign assets invested in the Saudi economy amounted to more than SAR1.04 trillion by the end of the first quarter of this year, compared with SAR1.03trn at the end of the same period last year, while direct investments grew only by four per cent to SAR816.6 billion, compared with SAR786.9bn for the same period last year.
According to an analysis by the economic department of Al Eqtisadiah, total foreign assets invested locally grew by 140 per cent at the end of the first quarter of this year, compared with their levels by the end of Q1, 2007, which amounted to SAR433.4bn.
Foreign direct investment can be defined as a measure of foreign ownership of productive assets, such as factories, mines and land. The increase of foreign investment is an indication of the increasing global economic integration or globalisation.
Foreign investments invested locally are divided over several sectors, of which approximately 78 per cent (SAR816.7bn) are invested directly into the Saudi economy.
(SAR 1 = AED 0.98, at the time of publishing)