Saudi Arabia witnessed a 73.7% rise in investment licenses during the third quarter of 2024, reaching 3,810 licenses. This increase reflects a significant jump from 2,193 licenses issued during the same period last year, excluding those granted under the anti-concealment campaign.
Key Sectors Boosting Investment Growth
Most investment licenses in Q3 2024 were concentrated in construction, manufacturing, professional activities, wholesale trade, and information and communications sectors. These categories contributed to 72% of the total licenses issued during the quarter.
A recent report by the Ministry of Investment highlighted that 2,853 licenses were issued to single-member limited liability companies. Additionally, 713 licenses went to multi-member limited liability companies, while 284 licenses were distributed among other company types.
Advancements Boosting Global Rankings
Saudi Arabia maintained top positions in key global indices, showcasing its robust economic and investment environment. Metrics such as government trust, access to technology, consumer confidence, and the AI strategy reflected the Kingdom’s progress.
The Ministry of Investment issued 65 regional headquarters licenses in Q3 2024, increasing from 57 in the previous quarter. Furthermore, it resolved 65 investor challenges and delivered over 103,000 services across call centers and integrated service centers, a 40% rise from Q2 2024.
Legislative Reforms and Vision 2030 Goals
The ministry underscored its efforts to enhance the investment climate through collaboration with government partners. Recent reforms include a new investment law, an updated commercial registry system, and improved measurement regulations.
The entertainment sector emerged as a key component of Vision 2030, aiming to diversify the economy and improve quality of life. Over the past five years, the General Entertainment Authority issued 2,189 licenses, generating over SR1 billion in revenue.
In Q3 2024, the entertainment sector saw a 13% growth in foreign investment licenses, with 34 licenses issued. Since 2020, the sector has recorded 303 investment licenses, highlighting its growing significance.
Saudi Arabia’s ongoing reforms and sectoral growth underscore its commitment to establishing a secure and competitive investment environment.
