Saudi Arabia announces $600 million in new investment from startups, venture capitalist

Foreign direct investment in Saudi Arabia slowed later in 2021 after a promising start, and some entities are reluctant to invest there due to the human rights situation.
Guests attend the opening ceremony of the annual Future Investment Initiative conference.
Guests attend the opening ceremony of the annual Future Investment Initiative conference in the Saudi capital, Riyadh, on Oct. 26, 2021. - FAYEZ NURELDINE/AFP via Getty Images
Al Monitor: The Pulse of the Middle East
Al-Monitor Staff

Saudi Arabia's Ministry of Investment announced today over half a billion dollars worth of new investments in the country. 

Three e-commerce startups, a health startup, a virtual networking company and a venture capital fund will invest up to $608.25 million in the Gulf kingdom, creating 2,400 jobs, the official Saudi Press Agency reported. 

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