QFI numbers rose more than 70 times from 50 in 2017 to more than 3,700 by 2023-end
The Saudi Exchange (Tadawul) saw more than 120 listings in the past three years across all markets, raising more than $100 billion, CEO Mohamed Al Rumaih said.
Speaking at the third edition of the Saudi Capital Market Forum, Al Rumaih revealed that the number of qualified foreign investors (QFIs) in the kingdom increased by more than 70 times from 50 in 2017 to more than 3,700 by the end of last year.
He added that Tadawul will conclude the second phase of the post-trade development programme this year, after which more sophisticated products and services will be provided to clients.
“This will help the Saudi economy, through the capital market, to transform from a regional leader to a global one,” Al Rumaih added.
Speaking at a panel discussion, Minister of Investment Khalid Al-Falih said that Saudi Arabia’s GDP has increased from SAR 2.6 trillion in nominal terms to over SAR 4 trillion, and its standing among G20 countries has leapfrogged to number 16.
He asserted that gross capital formation has gone from less than 22% to close to 28% by the third quarter of 2023, with the target of the National Investment Strategy to grow capital formation in the Kingdom to 30%.
Source : Zawya
