Riyadh—Amlak
The Kingdom ranked third in the list of outbound foreign direct investment flows in the Middle East and Africa as of the end of 2012, according to the 2013 Foreign Direct Investment Flows report published by London-based “Foreign Direct Investments Intelligence.”
Foreign direct investment in the Kingdom increased by 31.25 %, with approximately 63 overseas projects in 2012 compared to 48 in 2011, while the United Arab Emirates topped the list of outbound foreign direct investment flows in the Middle East and Africa, followed by South Africa, then the Kingdom, Oman, Egypt, Nigeria, Qatar, Kenya, Morocco, and finally Bahrain.

The Middle East and Africa Perform Best
The report stated that the Middle East and Africa region outperformed the global average in 2012, despite suffering an 11.78 % decline in foreign direct investment projects. Several sectors in the region achieved growth, with the fastest growth seen in transportation, warehousing, information and communications technology, industrial equipment, engines, turbines, and the real estate and tourism sectors.
This comes as the report «Regional Integration and Foreign Direct Investment in Developing and Transition Economies,» issued by the United Nations Conference on Trade and Development (UNCTAD), that the stock of foreign direct investment in the Gulf states increased tenfold over the course of a single decade, as the bulk of investment flowed into the Kingdom, followed by the United Arab Emirates, forming the two largest economies in the region.
Increase in Foreign Investment
The report revealed that there have been significant increases in foreign direct investment flows to and among the Gulf Cooperation Council (GCC) countries since 2003, explaining that the GCC countries’ new policies, along with new business opportunities created by the boom in oil revenues, have contributed to a rise in investments from an average of $1 billion annually between 1990 and 2000 to a record high of $60 billion in 2006.
He noted that the geographic origin of incoming foreign direct investment flows during the first decade of the millennium became more diverse, as well, with the Kingdom seeing a nearly sevenfold increase in the stock of foreign direct investment from developed countries between 2000 and 2010.
Review of Foreign Investments
Abdul Latif Al-Othman, Governor of the Saudi Investment Authority, confirmed this month that files related to foreign investment projects licensed in the country are being monitored and reviewed. He said: “There are licenses that do not meet the desired investment standards and negatively impact not only the economy and development but also serious foreign investors.”