Saudi’s Ministry of Investment (MISA) today announced that it oversaw 101 investment deals worth more than $4 billion in Q1 2022.
The deals announced are expected to create more than 5,800 new jobs in the domestic economy, as the Kingdom’s transformation journey continues to present investment opportunities in new and exciting sectors, MISA said.
The announcement comes after recent data showed that foreign direct investment (FD) inflows to Saudi in 2021 reached $19.3 billion, the highest in ten years.
The figures were published in MISA’s Investment Highlights report which includes an in-depth analysis of key Saudi investment data and themes. The report includes an extended analysis of the dynamic real estate industry, spearheaded by a special feature from Majed Al Hoqail, Minister of Municipal, Rural Affairs, and Housing.
One of the most significant deals announced in Q1 2022 was the $3.4 billion investment by Lucid Motors to establish an electric vehicle factory in Saudi Arabia. Other reported investments include in a wide range of sectors such as entrepreneurship, advanced manufacturing, defense, ICT, petrochemicals, and conversion industries.
