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Saudi FDI Struggles Cast Shadow Over Crown Prince's Plans [BNN Bloomberg (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: BNN Bloomberg
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 its goals to draw in capital, with major investments and deals outside of the energy space slow to materialize in recent years. The country hopes to hit $100 billion of FDI annually by 2030, roughly three times more than it has ever achieved. Inflows have averaged just over $17 billion a year from 2017-2022. “One key impediment to the d Show less Read more
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