(Adds number of foreign companies created)
RIYADH, Jan 19 (Reuters) - Foreign direct investment to Saudi Arabia rose to $3.50 billion in the first nine months of 2019 from $3.18 billion a year ago, Invest Saudi said on Sunday, citing figures from the Saudi Arabian Monetary Authority.
A total of 1,130 of foreign companies were created in 2019, a 54% increase from a year ago, said Invest Saudi, a state body in charge of promoting foreign investments, adding that this was the biggest rise in 10 years.
The government has made attracting greater foreign investment a cornerstone of its Vision 2030 plan to diversify the economy of the world’s top oil exporter away from a reliance on crude revenues.
Reporting by Marwa Rashad; Writing by Maher Chmaytelli; Editing by Edmund Blair