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Saudi FDI Struggles Cast Shadow Over Crown Prince's Plans [Financial Post (Toronto, Ontario, Canada)]

PJT Partners Inc. Class A (PJT) 
Last pjt partners inc. class a earnings: 4/28 06:50 am Check Earnings Report
Company Research Source: Financial Post
Author of the article: You can save this article by registering for free here . Or sign-in if you have an account. (Bloomberg) — Saudi Arabia's inflows of foreign direct investment stagnated in the first half of the year, showing that the kingdom is still struggling to draw in cash to support its vast economic transformation plan. Inflows amounted to $9.7 billion in the first six months of 2024, according to data released Monday by the Saudi General Authority for Statistics. That's just a touch higher than the prior year, when Saudi Arabia had its worst first-half haul since 2020. Still, FDI picked up 14.5% in the second quarter from the first, to $5.2 billion. The kingdom is targeting FDI inflows of $29 billion this year as Crown Prince Mohammed bin Salman seeks more cash to drive his multi-trillion dollar plan to diversify the economy away from oil. To meet that goal now, Saudi Arabia would need one of its biggest second-half hauls ever. Riyadh has been falling short of Show less Read more
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