Saudi Arabia is a powerhouse, delivering strong growth and enhanced investment opportunities in a challenging 2023. 

Saudi Arabia’s economy has demonstrated its resilience over the course of 2022 and into 2023. In the midst of global economic pressures, geopolitical instability and the wake of the Covid-19 pandemic, Saudi Arabia emerged as the fastest growing G20 economy in 2022. Whilst most global economies experienced a slowdown in economic growth, Saudi Arabia saw a steady growth in GDP year on year supported by private sector activity. 

Strong reform momentum has continued under the ambitious Vision 2030 programme. The evolution of the Kingdom’s legal and regulatory frameworks, predominantly in line with regional and global developments, supports foreign inbound investment across sectors and a diversified economy. Key recent reforms include a modernised companies’ law regime and a new codified contract law framework. Opportunities for investment are also growing as a result of the privatisation initiative, progressive foreign investment stock exchange reforms and the “giga” projects. 

In this Guide, we explore the key programmes and economic trends that shaped the investment outlook for Saudi Arabia businesses and their investors in 2022 and into 2023 and the legal framework relevant to structuring investments in the Kingdom.