Your browser is out of date

The browser you are using is outdated and may not display all the features of this website correctly. For the best online experience on sabb.com and improved safety features, we recommend that you update to the latest version of the browser.

Update your browser Skip and continue

March 2022

    • fb share Facebook
    • share twitter Twitter
    • share mail Email
  • Print Print

ECONOMIC TRENDS

 

With a purchasing managers’ index score of 56.2, the country has shown that business activity has been expanding at a rapid pace this year.


AVIATION

 

Policies are providing fresh impetus for the country’s travel and logistics sector to attract more tourists and investors in the near future.

VISION 2030

 

Development of several large-scale initiatives has continued unabated, while the country’s sovereign wealth fund remains steadfast in casting its net wider

COMMODITIES

 

As global investors dig deep for good dividends, the kingdom’s mining sector offers enormous potential waiting to be explored.

SME

 

The aid, offered as credit facility in financial institutions, will further ensure small businesses have the capability to bounce back from the pandemic.


CURRENCY

 

The United States raised its rates amid skyrocketing inflation, prompting the kingdom’s central bank to lift its rates also by 0.25%.

PDF Version



 IN THIS EDITION

Saudi Arabia is forging closer trade and investment ties with some of its key trading partners.

Data from Invest Saudi, a unit of the Ministry of Investment, shows the country attracted SAR 6.5 billion in foreign direct investment (FDI) in the third quarter of 2021, a 61.1% increase over the previous period. That takes FDI in the first nine months of 2021 to USD 15.5 billion, as efforts to transform the economy in line with Saudi Vision 2030 lure investors.
 

In March, the Saudi-US Business Forum, which featured American and domestic companies, discussed the role international investors play in the realisation of Saudi Vision 2030. 

Calling the kingdom a “land of opportunities”, and a leading international destination for investments from across the world, acting secretary general Hussein Al-Abdulqader of the Federation of Saudi Chambers tackled the significance of US investments, especially in the areas of energy, renewable energy, industry, agriculture, mining, tourism, entertainment, healthcare, transport and logistics services, ICT, and financial services. 

American and international companies are already paying attention to the spate of investment and business opportunities in the kingdom. In March, the Saudi Ministry of Defence signed 23 deals valued at SAR 13 billion. These included a SAR 2 billion contract with US aerospace conglomerate Raytheon Technologies and another valued at SAR 1 billion with Lockheed Martin.

Saudi Arabia is also locking in long-term deals in the oil and gas sector. Saudi Aramco took a final investment decision for a major integrated refinery and petrochemical complex in Northeast China. The project, which presents an opportunity for Aramco to supply up to 210,000 barrels per day (bpd) of crude oil feedstock to the complex, is expected to be operational in 2024.

It will combine a 300,000 bpd refinery capacity and ethylene-based steam cracker, a building block petrochemical used to manufacture thousands of everyday products. 

DISCLAIMER