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RIYADH: Foreign direct investment from China into �������� rose in 2024, with total Chinese FDI stock reaching SR31.1 billion ($8.2 billion), up from SR24.1 billion in 2023, a 28.8 percent increase.

Investment inflows jumped 164 percent year on year to SR8.6 billion, while net inflows more than tripled to SR7 billion, highlighting growing investor confidence in the Kingdom’s market and the strengthening economic partnership with China, according to the Saudi Press Agency.

The rise in Chinese FDI comes as �������� intensifies efforts to diversify its economy under Vision 2030. 

Minister of Investment Khalid Al-Falih is leading a high-level delegation to China from Aug. 24-29. The visit falls under the Saudi-Chinese High-Level Joint Committee framework and the Joint Committee on Trade, Investment, and Technology, co-chaired by Al-Falih and Chinese Minister of Commerce Wang Wentao. The fifth meeting of this committee was held in May 2025.

Bilateral trade between the two nations exceeds $100 billion annually, making China ��������’s largest trading partner. 

Chinese investments are concentrated in manufacturing but also span financial services, insurance, construction, mining, technology, trade, infrastructure, and healthcare.

During the visit, discussions in Shanghai will focus on petrochemical and industrial value chains, while Beijing meetings will explore financial partnerships and collaboration with state-owned enterprises. 

The delegation will also visit industrial facilities and participate in capital market activities in Hong Kong.

The visit builds on previous milestones in bilateral cooperation, including the Saudi-Chinese Investment Forum in December 2023, which brought together 1,200 government and private sector leaders and resulted in over 60 memorandums of understanding across sectors, including energy, agriculture, tourism, mining, finance, logistics, infrastructure, technology, and healthcare.

Al-Falih also participated in the China-GCC Industrial and Investment Cooperation Forum in May 2024, attended by over 50 Saudi officials and business leaders.

JEDDAH: Oman will launch its “Golden Residency” program for investors on Aug. 31, in a move designed to attract foreign capital, boost economic growth, and position the country as a leading global business hub.

The Ministry of Commerce, Industry and Investment Promotion will unveil the residency program alongside the “Mujeedah Companies” initiative for high-performing firms and a new electronic service to transfer commercial registration ownership via the “Invest Oman” platform, according to the state news agency.

The announcement will be made at an event titled “Sustainable Business Environment,” hosted at the Sultan Qaboos Youth Complex for Culture and Recreation in Salalah under the patronage of Dhofar Gov. Sayyid Marwan bin Turki Al-Said.

Oman’s Golden Residency mirrors similar initiatives across the Gulf, including ��������’s Premium Residency Program and the UAE’s 10-year Golden Residency. 

The move aligns with Oman’s Vision 2040 strategy to diversify the economy beyond oil and foster a competitive, investment-friendly environment.

The residency program builds on reforms under Oman’s Foreign Capital Investment Law, which in recent years has allowed 100 percent foreign ownership in over 1,700 business activities, reduced registration fees, offered tax exemptions of up to 30 years, and streamlined more than 800 government services.

The Salalah event will also feature the signing of cooperation agreements with Sultan Qaboos University, the German University of Technology, the Oman Energy Association, and Binaa Professional Services to develop the construction sector, ONA reported.

Mubarak bin Mohammed Al-Douhani, director general of planning at MoCIIP, said these initiatives aim to provide investors with stable, long-term opportunities and position Oman as a global investment destination.

He added that the “Mujeedah Companies” program will help high-performing Omani firms expand locally and internationally through a package of incentives and support.

Al-Douhani, who also heads the ministry’s digital transformation team, highlighted the importance of digitalization in commercial transactions. The electronic authentication service for transferring commercial registration ownership is expected to cut time and costs for investors, while promoting transparency and efficiency.

The ministry is also focused on developing the construction sector to meet modern, sustainable standards and strengthening collaboration with academic institutions and the private sector to nurture talent and foster innovation.