Saudi’s economic transformation collides with war and falling FDI
Source: Fortune ·
In this week’s Fortune Gulf Brief.
From the source
Welcome to this week’s Fortune Gulf Brief. We’ll be covering: Saudi Arabia’s FDI drops 18% amid war-driven retreat Is the secondary market the Gulf’s next big opportunity? Gulf’s sovereign giants step up global dealmaking UAE funds may anchor OpenAI’s $30 billion fundraise And, the three we enjoyed reading this week Foreign direct investment into Saudi Arabia fell 18% in the second quarter to SAR 22.3 billion ($5.95 billion), compared with the first quarter, highlighting the growing impact of the U.S.-Iran war on international investor appetite. The sharp pullback comes at a difficult time for the kingdom’s growth ambitions. Riyadh is targeting $100 billion in annual FDI by 2030 to help finance and accelerate the economic transformation envisaged under Vision 2030. In doing so, it hopes to reduce the fiscal burden on the government and its sovereign wealth fund, the PIF, while also increasing the size of the private sector and bringing jobs and expertise into the country. However,…