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In Q4 of 2023, the net value of foreign direct investment (FDI) flows in the Kingdom amounted to SAR 13 billion, representing an increase of more than 16% compared to Q3 of the same year. This information is based on the Foreign Direct Investment Publication for the fourth quarter of 2023 from the General Authority for Statistics. The results of the Publication showed that the value of FDI inflows into the Kingdom's economy reached SAR 19 billion, an increase of 16.6% compared to Q3 of the same year, which was valued at SAR 16 billion. The Publication also indicated that the value of FDI outflows from the Kingdom's economy was about SAR 6 billion, representing an increase of 17.6% compared to Q3 of the same year, which amounted to SAR 5 billion.

The General Authority for Statistics (GASTAT) issued today the Labor Market Publication for Q4 of 2023. According to the results of this publication, the total unemployment rate (for Saudis and non-Saudis) decreased to 4.4% from Q3, 2023 by 0.7 percentage points, where it was 5.1%. The unemployment rate for Saudis also decreased to 7.7% in Q4 of 2023 compared to 8.6% in Q3, 2023. Additionally, the unemployment rate for Saudi females during Q4 of 2023 decreased to 13.7% compared to 16.3% in the previous quarter, while the unemployment rate for Saudi males remained stable at 4.6% in Q4 of 2023. During the fourth quarter of 2023, the labor force indicators showed a decline in the total participation rate in labor force (for Saudis and non-Saudis) compared to Q3, 2023, reaching 60.4%. Moreover, the participation rate in labor force for Saudis dropped to 51.3%, compared to the previous quarter. The results of the Labor Market Publication also indicated a decrease in the participation rate in labor force for Saudi females during Q4 of 2023, with 35.5% compared to the previous quarter. However, the participation rate in labor force for Saudi males in Q4 of 2023 decreased to 66.6% compared to 66.8% in the previous quarter. It is worth mentioning that the Labor Market Publication bases its results on a household survey conducted by GASTAT falling under the social statistics. Data is collected through a representative sample of population from various administrative regions in the Kingdom of Saudi Arabia, by completing an electronic questionnaire containing several questions. This process provides estimates and indicators related to the labor force of population in the working age group (15 years and above) residing in the Kingdom of Saudi Arabia, estimating the population (inside and outside the labor force), and calculating key labor market indicators such as the unemployment rate, labor force participation rate, and others.

Today, His Royal Highness Prince Dr. Faisal bin Mishal bin Saud bin Abdulaziz, Prince of Qassim Region, received in his office Dr. Fahad Al-Dossari, President of the General Authority for Statistics. His Royal Highness the Governor of Qassim praised the role played by the General Authority for Statistics as the only official statistical reference for implementing, supervising, and regulating the statistical work in the Kingdom of Saudi Arabia, as it provides statistical products in social, economic, and environmental fields to support policymakers and decision-makers in advancing the implementation of development plans.  The meeting included a review of the results of statistics and reports prepared by GASTAT in collaboration with all government entities and stakeholders in the region, providing accurate and comprehensive statistical data that cover all aspects of social, economic, and environmental dimensions in Qassim region.

Today, His Royal Highness Prince Faisal bin Nawaf bin Abdulaziz, Prince of Al-Jouf Region, received in his office Dr. Fahad bin Abdullah Al-Dossari, President of the General Authority for Statistics, along with several staff members, and GASTAT’s branch director in the region, Engineer Jarallah Al-Shamrookhi. During the reception, His Royal Highness was briefed on the works and efforts of GASTAT in providing population and housing statistics at the Kingdom level, specifically concerning Al-Jouf region, its provinces, and affiliated centers. He also listened to an explanation about the role of GASTAT in providing statistical data to support the development of the region, emphasizing the importance of its role and the information it provides to contribute to the development of all regions. His Royal Highness, the Prince of Al-Jouf, highlighted the wise leadership's interest in developing and enhancing the regions, praising the role of GASTAT in providing data and indicators that assist in making future decisions and directions for urban, population, and economic development, achieving goodness and prosperity for the country and its citizens. Dr. Fahad Al-Dossari expressed his gratitude and appreciation to His Royal Highness the Prince of Al-Jouf for his constant attention and continuous follow-up to GASTAT’s work in the region and his support for the branch's activities.

The General Authority for Statistics GASTAT has released the annual statistics publication of foreign direct investment FDI for the year 2022 and for Q3 of 2023 in Saudi Arabia. This is the first time GASTAT has announced these indicators after adopting its calculation methodology in October of last year.  According to the publication's results, the total balance of FDI in Saudi Arabia reached 762 billion SAR at the end of 2022. The total inflows of FDI in Saudi Arabia amounted to 123 billion SAR, while the total outflows reached 17 billion SAR. The net inflows of FDI in Saudi Arabia amounted to 105 billion SAR. In the same context, GASTAT published the statistics of FDI for Q3 of 2023, indicating that the total inflows of FDI in Saudi Arabia amounted to 17 billion SAR. The total outflows of FDI in Saudi Arabia reached 5 billion SAR, while the net inflows of FDI in Saudi Arabia amounted to 11 billion SAR. On this occasion, Dr. Fahad bin Abdullah Aldossari, the President of the General Authority for Statistics, affirmed that Saudi Arabia's announcement of FDI for the first time adds a new global standard to improve the quality and transparency of the methodology for calculating FDI statistics. This is achieved by providing globally leading levels of transparency and governance. He also highlighted the joint efforts with the International Monetary Fund in this project and the integration of roles between the Central Bank and the Ministry of Investment to reach the methodology adopted by GASTAT for calculating the index. He explained that it will enable investors to make investment decisions based on reliable results that support decision-makers and policymakers, and to design investment policies that attract more foreign investments and inform investors about the best investment opportunities in Saudi Arabia. It is worth mentioning that the new methodology was adopted after alignment with the International Monetary Fund in the new methodology and the confirmation of the United Nations Conference on Trade and Development (UNCTAD) to apply the best practices and international standards according to the International Monetary Fund's Balance of Payments Manual. In addition, the World Bank supported the recommendations presented by the International Monetary Fund in its recent report on Saudi Arabia, which form the basis of the new methodology. The new methodology will contribute to enhancing governance levels and improving the quality of transparency in the statistical data and information for calculating direct foreign investment indicators as an investment destination in Saudi Arabia. FDI Index includes about 19 new indicators as part of the new methodology approved by the International Monetary Fund, including the balance and inflows of direct foreign investment by economic activity, investing countries, and regions of Saudi Arabia for the period from 2007 to 2022.

The General Authority for Statistics (GASTAT) has signed a memorandum of cooperation with the National Debt Management Center aimed at enhancing collaboration, strengthening coordination and integration of efforts in their respective fields of expertise, It also aims to establish a general framework for joint activities and tasks. The memorandum was signed by Dr. Fahad bin Abdullah Al-Dossari, President of the General Authority for Statistics, and Mr. Hani bin Madini Al-Madini, CEO of the National Debt Management Center. The memorandum included several tracks, including the exchange of support, technical and scientific expertise according to each party's specialization, as well as advice in their respective fields of expertise, including research, studies, and publications. In addition, it provides an opportunity for the employees of both parties to participate in developmental courses, seminars, scientific conferences, and workshops. In this context, Al-Dosssri indicated that the creation and measurement of statistical indicators is a key component of the statistical work that is necessary to achieve the objectives of Saudi Vision 2030. He underlined how crucial it is for GASTAT and the National Debt Management Center to collaborate in order to provide statistical data and indicators, as well as how government entities should integrate with one another. This will positively impact the success of collaborative efforts in line with GASTAT's ongoing development and transformation. In order to improve the economic and social statistical products that support the country's economy and sustainable development, he said that this partnership will help both parties meet their requirements and understand statistical developments and future trends. On his part, Al-Madani emphasized the significance of this memorandum in the framework of enhancing the knowledge sharing in related fields amongst government sectors. This will improve the ability to analyze data required to demonstrate the Kingdom's strong credit position.

Dr. Fahad bin Abdullah Aldossari, the President of the General Authority for Statistics (GASTAT), met with businessmen from the private sector at the headquarters of the Federation of Saudi Chambers (FSC), in the presence of the Acting Secretary General of the Federation of Saudi Chambers, Mr. Waleed H. Alorainan. As part of the meeting, a memorandum of understanding (MoU) was signed to cooperate in the field of statistics and exchange of expertise between (GASTAT) and (FSC). The aim is to contribute to the development and enhancement of economic statistics that support decision-makers and policymakers in both government and private sectors. During the meeting, the President of (GASTAT) discussed with businessmen and the private sector the pivotal role played by (GASTAT) in providing statistics, economic indicators, and other related information. The steps taken by (GASTAT) within its strategic transformation to develop its statistical products were also reviewed. Additionally, the role of the private sector in enhancing the efforts of (GASTAT) and the integration between them in developing economic indicators and statistical data, including data collection and analysis, was discussed. The (MoU) emphasizes cooperation in the areas of exchanging expertise and information between the two parties to develop statistical work and programs aimed at raising awareness in private sector establishments about the role and importance of (GASTAT) in performing its national duties. This includes participation in statistical surveys, facilitating access to information, exchanging visits between experts and specialists in relevant statistical fields, and benefiting from databases and information in shared areas. It also includes organizing conferences, seminars, and workshops between the two parties. The (MoU) was signed by Dr. Fahad Aldossari, the President of (GASTAT), and the Acting Secretary General of the Federation of Saudi Chambers, Mr. Waleed H. Alorainan, in the presence of several staff members from (GASTAT), (FSC), businessmen, and the private sector. Dr. Fahad Aldossari emphasized that the meeting between (GASTAT) and the private sector comes within the framework of improving performance regarding the development of statistical products and indicators. It aims to identify the needs and opportunities of the private sector in the field of statistical information and data. He also emphasized the importance of integrated work between (GASTAT) and private sector partners, which positively reflects on the success of joint work and enhances cooperation in line with the development and change process that (GASTAT) is undergoing. Additionally, it aims to benefit from advanced statistical programs and products that increase business and investment opportunities in various fields. From his side, Mr. Waleed H. Alorainan emphasized the importance of cooperation between (GASTAT)and the private sector, given the complementary roles between the two parties. Companies and institutions are the main source of data for GASTAT, while the statistics provided by GASTAT are among the most important sources relied upon by the business sector in studies, analysis, and strategic decision-making. He expressed his hope that this partnership would contribute to meeting the requirements of both parties and understanding the economic statistical developments and future trends for the development of statistical products and private sector opportunities that support the national economy, sustainable development, and the goals of Vision 2030. It is worth mentioning that (FSC) acts as an umbrella for the business sector and chambers of commerce in the Kingdom. It represents them at the local and international levels and works to develop the role of the private sector in the national economy in coordination with government agencies. It also represents the sector in forums, events, and conferences, and participates in local and international economic decision-making. Additionally, it enhances the Kingdom's trade and investment relations with the world and supports the access of Saudi exports to foreign markets.

The General Authority for Statistics issued the publication of health and safety at work statistics for the year 2023 in the Kingdom of Saudi Arabia. The publication showed that 45.8% of employees in the Kingdom work for more than 40 hours per week, and 39.6% of employees work for 40 hours per week on average. The actual working hours per day for employees is 8 hours. The percentage of employees who have been trained on health and safety procedures at work reached 46.6%, while the percentage of employees who have a dedicated health and safety department at their workplace reached 48.7%. The most common risks faced by employees are standing for long periods of at least four hours daily with a percentage of 28.21%, sitting on a chair for long periods exceeding three continuous hours with a percentage of 28.15%, and moving the upper limbs repeatedly for long periods with a percentage of 17.1%. 7.8% of employees directly or indirectly deal with chemical substances, medical waste, radioactive materials, or toxic gases, while 6.3% of employees face risks such as electrical risks, machinery risks, or drowning. The percentage of employees who have coverage for basic healthcare reached 89.7%. The most common work-related health issue in the past 12 months is "work-related stress" with a percentage of 3.2%, while 83.5% of employees do not suffer from any work-related health issues.

The General Authority for Statistics announced an increase in the operating revenues of small and medium establishments (SMEs) by 5.8% during the year 2022, reaching 1.339 billion SAR compared to 1.265 billion SAR in 2021, an increase of 74 billion SAR . These findings are based on the publication of Small and Medium Establishments Statistics for 2022. The publication also revealed that the value of operating expenses in SMEs reached 687.8 billion SAR in 2022, compared to 659.4 billion SAR in 2021, an increase of 28.3 billion SAR or 4.3% on an annual basis. Furthermore, the results of the publication indicated an increase in employee compensation during 2022, amounting to 164.2 billion SAR compared to 155.7 billion SAR in 2021, an increase of 8.4 billion SAR or 5.4%. It is worth noting that the statistics of small and medium establishments are important economic indicators that are regularly implemented and published to enhance the economic database and provide significant statistical indicators to understand the general trends of economic activities in SMEs. This is achieved by providing updated statistics on operating revenues, expenses, and employee compensation in these establishments.

His Excellency Dr. Fahad bin Abdullah Aldossari, President of the General Authority for Statistics, met with Ms. Janet Alberda, Ambassador of the Kingdom of the Netherlands to the Kingdom of Saudi Arabia at GASTAT’s headquarters in Riyadh. During the meeting, several topics were discussed, most notably addressing ways to strengthen joint work in the statistical sector and reviewing a number of topics of mutual interest in statistical work. It should be noted that the General Authority for Statistics and Statistics Netherlands' office signed a memorandum of understanding earlier aimed at promoting the exchange and development of experience in statistical work between the two countries.

General Authority for Statistics announced today on its official website (stats.gov.sa) the publication of the health determinants indicators in the Kingdom for the year 2023. The results of the publication indicated that the prevalence of obesity among KSA adult population reached 23.7%, and this percentage is similar between males and females. However, the percentage of individuals with ideal weight was significantly higher among females at 39.6% compared to males at 29.5%. Furthermore, the prevalence of obesity among children under the age of fifteen reached 7.3%, while the percentage of children who are underweight was 41%. On the other hand, the results of the Early Childhood Development and Child Well-being Statistics publication for the year 2023 revealed that the percentage of children, females and males in the Kingdom who are developmentally on track in health, learning, and psychosocial and social well-being reached 80.1, 83%, and 77.3%, respectively. Tabuk region recorded the highest value for the Early Childhood Development Indicator at a rate of 83.9%, while Jazan region recorded the lowest value at a rate of 75.9%. Furthermore, the percentage of children in the Kingdom under the age of five who have the ability to speak at least one language well made up 78%, with the percentage of males reaching 75.5%, compared to 80.6% of females.

General Authority for Statistics and Health Insurance Council signed a cooperation agreement between the two parties at the headquarters of the Health Insurance Council. The agreement was signed by Dr. Fahad Aldossari, President of the General Authority for Statistics, and Dr. Shabab Al-Ghamdi, Secretary-General of the Health Insurance Council. The collaboration is a continuation of the significant role that both entities have played in supplying indicators and statistical data. The statistical data and indicators related to the health sector are of high importance to policymakers and decision-makers. Integrating the efforts of both entities enhances the quality and reliability of the data and indicators. Additionally, the agreement includes the exchange of technical and knowledge expertise and working together to improve statistical products and provide technical support in the statistical aspects related to the services of the Health Insurance Council. It also aims to enhance the level of joint coordination in the field of exchanging statistical data, which contributes to providing information and enhancing the services provided to beneficiaries of health insurance.

The Board of Directors of the General Authority for Statistics held its 26th meeting, chaired by His Excellency the Minister of Economy and Planning, Chairman of the Board of Directors of the General Authority for Statistics, Mr. Faisal bin Fadel Al-Ibrahim. Several topics were discussed related to the development of statistical work and enhancing the role of the Authority. The Board reviewed the progress made in the projects and strategic initiatives that the Authority is currently working on as part of its strategic transformation. They also discussed the statistical products that will be developed and issued in the coming phase, which will meet the requirements of government and private entities and align with international standards. It is worth mentioning that the General Authority for Statistics is in charge of designing and implementing field surveys, conducting statistical studies and research, collecting and analyzing data, documenting and tabulating it, and extracting indicators. It is also responsible for all activities related to documenting and preserving statistical information and data, as well as preparing national statistical manuals and classifications according to international standards.

General Authority for Statistics has signed a memorandum of cooperation(MoC) with Saudi Broadcasting Authority, aimed at enhancing cooperation between the two entities and promoting coordination and integration of efforts in their respective fields. The (MoC) was signed by Dr. Fahad Aldossari, President of the General Authority for Statistics, and Mr. Mohammed Fahad Al-Harthi, CEO of the Saudi Broadcasting Authority. It includes several areas of collaboration, including the exchange of support and technical and scientific expertise, cooperation in conducting statistical surveys related to providing statistical data and indicators for the media and advertising market, viewership rates, and viewer satisfaction. It also includes the exchange of advice, including research and studies, and the provision of opportunities for employees of both parties to participate in training courses, seminars, scientific conferences, and workshops organized by each party. In this context, Dr. Fahad Aldossari, the President of the General Authority for Statistics, emphasized that the statistical work carried out by the Authority is an important component in achieving the goals of Saudi Vision 2030 by building statistical indicators and measuring them. He pointed out that the media sector receives great attention due to its pivotal role and its effective contribution in enhancing knowledge and building awareness among society towards various sectors and their work, including the General Authority for Statistics and its role in providing statistical data and indicators. He added that this (MoC) will support both entities in fulfilling their roles. Mr. Mohammed bin Fahd Al-Harithi, CEO of the Saudi Broadcasting Authority, affirmed that this (MoC) emphasizes the importance of integration between government entities, which positively reflects on the success of joint work. It also supports the strategy of the Authority in enhancing cooperation with other government entities to keep up with the process of development and change that the Authority is going through. It is worth mentioning that the General Authority for Statistics is the statistical Authority in the Kingdom, and the only official reference for implementing statistical work, as well as its technical and regulatory supervisor. It has multiple tasks, including collecting statistical data and information from public and private entities and individuals, analyzing and studying this data to calculate various statistical indicators, as well as providing statistical consultations and reports for surveys, research, and other data and statistical services within its scope of work. The Saudi Broadcasting Authority has recently been working on strengthening cooperation with government entities in various sectors, keeping pace with the development witnessed by the Kingdom in all fields. The Authority is dedicating all its efforts to anything that enhances the Kingdom's position and highlights the continuous work to achieve the ambitious Vision 2030, which is inseparable from the roles of active media entities.

His Excellency Dr. Fahad Aldossari, President of the General Authority for Statistics, met with Mr. Mohammed Ali AlQaed CEO of the Information & eGovernment Authority in the Kingdom of Bahrain, on the sidelines of the 9th Global Conference on Statistical Data and Metadata Exchange (SDMX). They discussed ways to enhance cooperation in the statistical sector and reviewed opportunities to develop collaboration in the field of statistical data and various topics of mutual interest in the statistical field between the two countries. At the beginning of the meeting, Dr. Fahad Aldossari congratulated the Kingdom of Bahrain on the successful hosting of the (SDMX) conference, commending the efforts of the Information & eGovernment Authority, which contributed to the success of the first-ever hosting of the event in the Middle East. He expressed his hopes that the conference would achieve its objectives and contribute to the international efforts aimed at developing the exchange of statistical data and metadata. During the meeting, both sides discussed enhancing the level of coordination in the field of statistical data and metadata, as well as working on the continuous development of bilateral relations. They also discussed developing methods and techniques for calculating indicators, including household income and expenditure surveys, and providing up-to-date statistical data to enhance joint efforts in sustainable development goals between the two countries. This includes the continuous development of mechanisms for calculating indicators, exchanging statistical data and metadata, and governing them, as well as developing cloud computing techniques and continuously benefiting from modern technologies. It is worth mentioning that Dr. Fahad Aldossari, the President of the General Authority for Statistics, visited the Kingdom of Bahrain leading a statistical delegation from the Kingdom of Saudi Arabia to participate in the 9th Global Conference on Statistical Data and Metadata Exchange (SDMX), organized by the Information & eGovernment Authority in Bahrain. The conference is a global event held every two years under the Global SDMX Initiative, launched in 2002, and managed by a group of international organizations with the aim of unifying and updating mechanisms and processes for exchanging statistical data and metadata between international organizations and official statistical agencies.

General Authority for Statistics announced, on its official website (stats.gov.sa), a number of health status indicators in the Kingdom, as it issued 3 specialized statistical publications that included many indicators related to the general health status, women’s health and reproductive care, in addition to comprehensive health care for the year 2023. In 2023, the percentage of adults aged (15 years and above) and children aged (under 15 years old)  in the Kingdom who have private health insurance to cover basic healthcare expenses recorded 37.5% and 19.5%, respectively. The percentage of adults aged (15 years and above) in the Kingdom who pay healthcare on their own was 21.8%, while the percentage of children whose parents pay their healthcare on their own was 9.7%. The percentage of adults aged (15 years and above) who undergo annual regular check-ups was 47%, according to the publication’s results.  On the other hand, the results of the publication on the health status of the population in the Kingdom in 2023 showed that the percentage of adults aged (15 years and above) who rated their health quality as good or very good was 53%, while the percentage among children and adolescents aged 4 to 14 years was 71%. The percentage of women who had a negative perception of their health status was 30%, compared to 25% among adult men (15 years and above). Regarding women's health, the results of the publication on women's health and reproductive care in 2023 showed that the percentage of health coverage provided by private health insurance during pregnancy and childbirth for recent births in the Kingdom was 26%, while the percentage of those who pay the costs of providing healthcare during pregnancy and childbirth on their own was 13.5%. The percentage of mothers who had at least four visits to a healthcare provider before childbirth reached 88.8%. The percentage of births attended by skilled health specialists was 99.8%, out of total births in the Kingdom during 2023, while the percentage of c-section births was 34.5%, out of total births in the Kingdom during 2023. On the other hand, the percentage of married women of reproductive age who have their need for family planning satisfied with modern method was 54%.

The General Authority for Statistics participated in the 9th Global Conference on (SDMX), which is being held in the Kingdom of Bahrain under the title of “Empowering Data Communities.” His Excellency Dr. Fahad Aldossari, the President of the General Authority for Statistics, headed the Authority’s delegation participating in the conference with the aim of discussing the latest developments in the field of statistical data and metadata and benefiting from techniques and tools that contribute to enhancing cooperation, knowledge and exchange of metadata through an international initiative to exchange statistical data and metadata between international organizations and a number of statistical offices. The President of the General Authority for Statistics gave a speech at the conference in which he expressed his sincere thanks and appreciation to the Kingdom of Bahrain for hosting this important conference and for the good organization and hospitality. He also extended his appreciation to the Bahrain Information & eGovernment Authority (IGA), statistical offices, participating international organizations and SDMX sponsors for co-hosting this event with the support of the United Nations Economic and Social Commission for West Asia (ESCWA) and Banca d’Italia.  During his speech, Dr. Fahad Aldossari said that SDMX international initiative was launched in response to the continuing level of rapid developments and the ongoing demand for large and informative data sets to empower the data community and update and unify the mechanisms within this field, whether at a national or international level. He also pointed out that SDMX frameworks and standards are intended to help national statistical offices organize and exchange data and metadata. Additionally, our office uses SDMX to upload KSA’s data on platforms run by the International Monetary Fund and ESCWA. The areas covered include statistics of GDP, labor market, price, export, import, and relevant indicators of sustainable development goals through advancements in the application and use of SDMX rules at the international level, to facilitate the exchange of statistical data with regional and international organizations. He confirmed that over the recent years the volume of statistical work has expanded, and the Kingdom of Saudi Arabia's statistics sector has seen substantial transformations through statistical initiatives and projects led by the General Authority for Statistics, in order to produce statistical data and indicators  and to use the most sophisticated infrastructures for integrating various data sources and best in class infrastructures for data management and governance. In addition to the newly constructed data lake, it makes use of cloud computing techniques, and this technology is continuously being improved as part of the digital transformation initiative that supported development plans, programs, and policies including Vision 2030. In addition to the actively and successfully participates in international workshops and conferences to prepare and enable the national staff to transfer knowledge to the team leading the statistical transformation process in the Kingdom. On the other hand, the 9th Global Conference on (SDMX) will be held over five days, from 29 October 2023 to 2 November 2023, and includes several key sessions on the importance of using new technologies for the (SDMX ) and utilizing artificial intelligence techniques as an enabling tool to facilitate access to official statistics. A number of workshops are also held with the aim of strengthening international relations and cooperation between major international organizations and benefiting from the technical expertise shared to develop statistical work among statistical offices. It is noteworthy that the 9th Global Conference on (SDMX) is organized by the Bahrain Information & eGovernment Authority (IGA) and is a major international event in the statistical sector and indicators. It is organized every two years through the international initiative (SDMX), which was launched in 2002 and is managed by a group of international organizations with the aim of unifying and modernizing mechanisms and processes for exchanging statistical data and metadata between international organizations and a number of statistical offices.

The General Authority for Statistics and the Korean Statistical Office held a bilateral meeting with the participation of several statistical officials from both sides, in order to activate the joint cooperation program in the statistical field between the General Authority for Statistics and the Korean Statistical Office, whose signature was witnessed by His Royal Highness the Crown Prince - may God protect him - and the Korean President, and signed by the Kingdom's Minister of Economy and Planning, the Chairman of the Board of Directors of the General Authority for Statistics, Mr. Faisal bin Fadel Al-Ibrahim, and from the Korean side, the Deputy Prime Minister of Economy and Finance of South Korea, Mr. Cho Kyung-Ho. The meeting discussed the mechanism for activating joint cooperation and implementing the statistical work program between the two countries, in addition to enhancing the level of joint coordination in the field of statistical data and working on the continuous development of bilateral relations. It also discussed the development of methods and techniques for calculating indicators and providing accurate and up-to-date statistical data to enhance the goals of sustainable development in all fields. The President of the General Authority for Statistics, Dr. Fahad Aldossari, drew attention to the gracious care received by the joint cooperation program in the statistical field from His Royal Highness the Crown Prince - may God protect him - and in the presence of the Korean President. This confirms the care for the statistical sector and its role in providing data and indicators that support decision-makers and policy-makers in both countries. He praised the fruitful cooperation between the Authority and its Korean counterpart, which has lasted for more than six years, during which the two sides exchanged knowledge and technical expertise in the statistical field, leading to the enhancement of joint cooperation in the coming stage. It should be noted that the joint cooperation program aims to implement evidence-based policies and enhance cooperation in the field of official statistics through the exchange of expertise to produce various indicators and statistics using modern technologies that are in line with global developments in the field of data. It also includes the exchange of statistics that support economic activities and the provision of scientific participation and training opportunities through the organization of joint seminars and workshops between the two countries.

The Kingdom of Saudi Arabia participated in the 21st International Conference of Labour Statisticians, which was held at the headquarters of the International Labour Organization in Geneva, Switzerland, in October 2023. The delegation of the Kingdom was headed by His Excellency the President of the General Authority for Statistics, Dr. Fahad bin Abdullah Aldossari. The conference aims to establish new statistical standards for measuring the informal economy and update the previous standards related to the informal sector and employment. It also discussed several topics related to labour market statistics, including standards for voluntary work, child labor, the International Classification of Status in employment, statistics on digital platform work, and more. Experts from government sectors representing the ministries of labour, national statistical offices, employers' organizations, and workers' organizations participated in the conference. Dr. Fahad Aldossari emphasized the importance of the conference's agenda, which included reviewing the International Classification of Status in Employment (ICSE), updating the implementation of the resolution on labour and employment statistics, statistical standards for measuring labour migration, and youth integration in the labour market. He also highlighted the monitoring of Sustainable Development Goals indicators under the auspices of the International Labour Organization, which measure the level of progress in achieving sustainable development targets. In addition, he mentioned the updating of decisions and guidelines related to measuring income associated with work and the impact of cooperation with the Organization on the statistical indicators issued by the Authority within the framework of international methodologies. He commended the International Labour Organization's initiatives in supporting the capabilities of statistical agencies and its role in preparing for the International Conference of Labour Statisticians along with its excellent organization, which succeeded in bringing together a large number of experts, specialists, and institutions in the field of labour market statistics. It is worth mentioning that the International Labour Organization organizes the International Conference of Labour Statisticians once every five years, to set standards in the field of labour statistics at the international level, issue specific recommendations on selected topics in the field of labour statistics, and formulate decisions and guiding principles that are subsequently approved by the Governing Body of the International Labour Organization.

In consultation with IMF, Saudi Arabia worked on a new methodology for calculating FDI statistics through cooperation between the Ministry of Investment, the General Authority for Statistics and the Saudi Central Bank. Saudi Arabia indicated that this methodology aims to improve the quality and transparency of its FDI data according to global best practices, explaining that its final data will be published this year. UNCTAD, the World Investment Report's issuer, has confirmed that the new methodology follows international standards, according to the IMF Balance of Payments Manual. The World Bank also agreed with and welcomed the recommendations of the International Monetary Fund in its report on the Kingdom, which in turn forms the basis of the new methodology. In a statement on this occasion, His Excellency the Minister of Investment Engineer Khaled bin Abdulaziz Al Falih, stated that the new methodology is part of a series of ongoing reforms and improvements to improve the quality and transparency of data in the Kingdom, under Vision 2030, and to achieve the objectives and initiatives of the National Investment Strategy, launched by His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud. He emphasized that improving the transparency and quality of FDI statistics in the Kingdom would contribute to investors' empowerment and decision makers to make their decisions better, which supports improving the attractiveness of the Kingdom's investment environment and attracting investors from all over the world in line with the Kingdom's objectives by launching the National Investment Strategy, the development of special economic zones, the national initiative of global supply chains and the launch of mega-projects. He stated that the data confirmed the improved performance of the Kingdom in the formation of fixed capital and foreign direct investment, thereby enhancing the Kingdom's position as a leading investment destination, adding that the Kingdom is keen to keep investors up to date on the most important indicators and data in the Saudi economy, and the availability of many quality investment opportunities, through a platform "Invest in Saudi Arabia", which offers investment opportunities across the Middle East. President of the General Authority for Statistics Dr. Fahad Aldossari said that the methodology for calculating the FDI index was adopted after technical consultations with the IMF. The methodology is one of the best international practices in calculating FDI statistics, in line with the IMF Balance of Payments manual. The methodology would contribute to enhancing the accuracy, detail and comprehensiveness of FDI indicators, noting that FDI statistics would serve decision makers in designing policies that would create an attractive investment environment and highlight the Kingdom's investment opportunities. Through this methodology, GASTAT sought to diversify data sources, increase reliance on register-based sources and provide and disseminate more detailed statistics such as FDI stock and flows by economic activity and the Kingdom's investing States. It also provides FDI indicators more periodically through specialized quadrennial surveys. The President of the General Authority for Statistics stressed that these efforts are part of GASTAT’s endeavor to provide accurate, comprehensive, high-quality and transparent statistical information and data. On the other hand, the Deputy Minister at the Ministry of Investment Dr. Saad Al-Shahrani said that access to high-resolution data is crucial not only to measure progress and development, but also to monitor and improve the performance of the domestic economy, and to track investment performance, which accounts for about 25% of the Kingdom's GDP. Over the past two years, the Ministry of Investment has worked according to the new methodology to analyze more than 70 thousand financial lists of many companies. Covering the past 15 years, indicating that the results of this mega-project will support decision makers, analysts and specialists in the preparation of studies and analyses, and will also form the infrastructure for working to identify investment priorities and follow up on performance for the sectors and countries invested in the Kingdom. The preparation and development of the new methodology is based on the Kingdom's unprecedented economic transformation under Vision 2030, which represents the road map and the plan for growth and economic diversification and includes: "The Kingdom seeks to adopt global best practices to achieve the highest standards of transparency and governance." Besides improving the quality and transparency of data, Vision 2030 aims to increase the contribution of FDI to GDP, reaching 5.7%, and to increase the private sector's contribution to GDP from 40% to 65% by 2030, becoming one of the world's 15 largest economies. Saudi Arabia is a leader in updating FDI data through the analysis of financial lists as a source of annual data, with few States following this methodology. This reflects the Kingdom's progress and its reliance on modern methodologies according to global best practices, with the collection and analysis of FDI data and their dissemination in detail expected by the end of this year.