06 Aug 2024
RIYADH: Saudi Arabia issued 2,728 investment licenses in the second quarter of this year, a 49.6 percent increase year on year, underscoring its growing appeal as a business destination.
The Ministry of Investment said that the figure excludes licenses granted under the Kingdom’s “Tasattur” anti-concealment campaign.
The growth reflects the Kingdom’s enhanced attractiveness due to its stable, supportive business environment and competitive advantages, aligning with Vision 2030’s goals of economic diversification and increased private sector participation.
According to MISA’s July bulletin, foreign direct investment inflows increased modestly by 0.6 percent year-on-year in the first quarter of 2024, while FDI stock grew by 6.1 percent by the end of the quarter, reflecting rising confidence among international investors in Saudi Arabia’s economic landscape.
FDI stock represents the total accumulated value of foreign investments in the Kingdom, including all past and current backing in businesses, real estate, and other assets.
In July, Brendan Marais, a partner at Kearney Middle East & Africa, told Arab News that “one of the key factors that sets Saudi Arabia apart from other emerging markets is its deliberate focus on building FDI-attraction capabilities.”