Saudi Ministry of Investment expands offices internationally to attract investors

The Saudi Ministry of Investment said that it expanded internationally during 2019 and 2021, as part of its goals to establish 11 international offices around the world.

The ministry added in the “Saudi Economy and Investment Monitor” report, which the ministry publishes quarterly, that it has currently opened 6 offices in Washington, London, Beijing, Singapore, Tokyo, and Paris.

It explained that the “Invest in Saudi” platform is the unified national identity for investment marketing in Saudi Arabia, and since its launch, it has enjoyed a wide international, regional and local presence and spread through participation in the most important and prominent conferences and events.

The ministry said that, in cooperation with the ministries of foreign affairs and trade, it launched a service that allows foreign investors to establish their businesses and obtain an investment license from outside the Kingdom.

In the report, the ministry revealed the completion of 25 investment deals in the last quarter of 2021, with investments of nearly 18 billion riyals, and providing 8,000 job opportunities.
With these numbers, the total deals in 2021 amounted to about 112 deals, with investments exceeding SAR 50 billion.

In the fourth quarter, the Ministry of Investment granted 2056 investment licenses, an increase of nearly four times the number of licenses it granted in the same period of 2020.

The ministry explained that there is an increasing demand by new investors to invest in the Kingdom, in addition to the desire of existing investors to expand their existing investments.

Regarding the distribution of deals in the fourth quarter of 2021, the entrepreneurship and innovation sector had the largest share of investor interest, as 11 deals out of 25 deals were closed in the fourth quarter of 2021, followed by the education and training sector with about 5 deals, and then the mining and minerals sector with about 3 deals, and the real estate sector came in fourth place with two deals, and the rest of the deals were distributed to the sectors of transport and logistics, information and communications, health care, life sciences, and manufacturing.

On the distribution of deals according to countries during the fourth quarter of 2021, it is clear that the most invested countries in the Kingdom are the United Arab Emirates with about 5 deals, followed by Britain with about 4 deals, and then France, South Korea and the Cayman Islands with about 3 deals, and therefore the ranking Deals by countries during the year 2021 indicates that the most invested countries in the Kingdom are the UAE, China, Egypt, and the UK, with a total of 47 deals, equivalent to 42% of the total deals in 2021.

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