During the Bloomberg New Economic Forum held in Singapore, the Saudi Minister of Investment emphasized the relationship between Saudi Arabia and China, believing that China is Saudi Arabia's largest trading partner and exporter.

Saudi Minister of Investment Khalid Al Faih stated that Saudi Arabia has issued licenses to 180 companies to establish regional headquarters in Saudi Arabia, exceeding the set target of 160 companies. Saudi Arabia's goal is to issue licenses to 10 companies every week.

The Minister emphasized Saudi Arabia's commitment to creating a global investment environment, including using transparent and internationally recognized methods to calculate foreign direct investment statistics.

He emphasized that given that Saudi Arabia is the largest economy in the Middle East and the Arab world, ranking among the top 20 global economies, investors are confident in entering the Saudi market.

According to the announcement from the Ministry of Investment, according to a new and more accurate method, foreign direct investment will reach 775 billion rials ($207 billion) in 2022.

This places Saudi Arabia 16th among the G20 economies, correcting the previous estimate of approximately 1 trillion Saudi Riyals ($269 billion) based on previous methods.

Previously, Saudi Arabia announced that starting from early 2024, it will cease signing contracts with foreign companies or commercial entities headquartered outside of Saudi Arabia.