Saudi Arabia Opens Stock Market to Foreign Investors

• Saudi Arabia's stock market (Tadawul) is now fully open to all foreign investors.
• The reforms include relaxed rules around alcohol, frozen rents in Riyadh, and allowing foreigners to own property in Mecca and Medina.
• The government aims to attract $47 billion in foreign direct investment this year, $58 billion in 2027, and a total of $150 billion by 2030.
• Plans for mega-projects like 'The Line at Neom' and a cube-shaped skyscraper in the capital may be adjusted due to a shift in spending strategy.

Saudi Arabia has opened its stock market to all foreign investors, a key reform by Crown Prince Mohammed bin Salman aimed at diversifying the economy and attracting foreign direct investment (FDI). This move is part of a broader strategy to reduce reliance on oil, with targets to bring in $47 billion in FDI this year and $58 billion in 2027, ultimately aiming for $150 billion by 2030.