Saudi Gazette - Saudi FDIs outperforming other Gulf states: Report

Saudi Gazette - Saudi FDIs outperforming other Gulf states: Report:

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In absolute numbers, Saudi Arabia is outperforming the broader region not only due to its size. A very good business environment and stability are producing a flourishing development, the “EU GCC Invest Report 2013” noted.

In openness, it lags behind but opened up in recent years following the trend of diversification in the region, the report pointed out.

After a volatile time of FDI and outflows in the seventies, Saudi Arabia built up a considerable size of FDI stocks in the eighties. After that, 20 years of stagnation in inflows and a slow decline in FDI to GDP ratio followed. Recognizing the need for diversifying away from its heavy oil dependence, modernization and reforms eased business hurdles and improved foreign investment laws, which lead to a new surge in FDI starting in 2004 and in GDP ratio even accelerating throughout the financial crisis (although partly due to a decline in GDP)."

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