Foreign investment licenses in Saudi Arabia record a historical level in Q1

In the first quarter (Q1) of 2022, Saudi Arabia achieved a new record for new foreign investment licenses reaching 9,400. 

This is nearly nineteen times the number of licenses awarded in the first quarter of the previous year. 

In the first quarter, there were 1,215 new investment licenses issued, excluding status corrections. 

According to figures released by the Ministry of Investment, this represents a 150 percent rise over the same period last year. 

More than 6,000 new licenses in wholesale and retail activity were given as a result of the campaign to combat commercial deception, which gave businesses the chance to correct their legal status.