Saudi Gazette report

RIYADH — During a meeting of the Council of Economic and Development Affairs (CEDA), the Ministry of Economy and Planning reported a notable 16% increase in net direct foreign investment inflows for the fourth quarter of 2023 compared to the previous quarter.

The council reviewed various reports on economic developments, both locally and internationally.

The presentation highlighted the effects of global economic trends on the Saudi economy, identifying risks and opportunities and emphasizing the nation's accelerated economic growth and diversification despite uncertain global economic prospects.

Key points discussed included the positive performance indicated by the Purchasing Managers' Index (PMI) for March 2024, driven by increased production and new orders.

The council also evaluated the implementation of its decisions and recommendations, reflecting on the achievements and the status of government entity transactions as part of their ongoing governance and development strategies.