The Council of Ministers, in its session held yesterday, Tuesday, 6 February 2024, in Riyadh, issued a resolution appointing Ms. Sara Alsuhaimi as a member, and renewing the membership of Mr. David Kalisch in GASTAT’s board of directors as specialists in the field of  GASTAT's work, for a period of three years.

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 ranking of the Kingdom of Saudi Arabia, represented by the General Authority for Statistics (GASTAT), has jumped 25 places in the Statistical Performance Index (SPI) issued by the World Bank. It ranked first in the Gulf and advanced four places in the same index among the G20 countries, coming in at 15th place after previously being ranked 19th in the 2019 assessment. The World Bank recently announced the results of the assessment of the maturity and performance of statistical systems (SPI), which included 186 countries. The assessment focuses on five main dimensions distributed over more than 52 indices, covering data sources, statistical products and services, and infrastructure. The Kingdom achieved 100% in the data use dimension and scored 80.8% in the assessment, a significant increase from the previous score of 63.4% in 2019. It was the highest progress among the G20 countries, with a progress rate of 17.4%.   Dr. Fahad bin Abdullah Aldossari, the President of the General Authority for Statistics, explained that the support and empowerment received by GASTAT in the past period contributed to achieving strategic transformations in the statistical production and technical infrastructure fields. This had a great impact on enhancing the statistical role played by GASTAT and achieving progress in comparison to many official statistical agencies around the world. It also contributed to building and calculating high-quality indices and statistical data that lauded by international organizations specialized in the statistical field. Moreover, it supported all sectors of the state with statistical data that assist decision-makers and policymakers. He emphasized the importance of continuous collaboration with partners to further develop statistical production. It is worth mentioning that this significant progress achieved by the Kingdom in the assessment of the national statistical agencies' performance index (SPI) is a continuation of the efforts of GASTAT in implementing the statistical transformation that aligns with the national transformation in various sectors and fields, in line with Saudi Vision 2030. GASTAT is making relentless efforts to anticipate the future in light of its transformation strategy, which includes developing the technical infrastructure, improving field surveys and statistical products, as well as enhancing partnerships with the government, private, and non-profit sectors. It also works on improving data availability and meeting statistical requirements at the local, regional, and international levels, while focusing on increasing customer satisfaction through continuous development of data presentation and statistical indices interactively and smoothly. In the same context, this achievement reflects the level of support and empowerment GASTAT receives from the wise leadership and the great confidence in its national role in providing statistical data, building, and measuring national statistical indices that support sustainable development plans and the development of the Saudi economy, and improving the quality of life in the Kingdom.

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.