Saudi foreign investment licences increase by 130% in Q1

By August 8, 2018News

Quarter one of 2018 saw a 130 percent increase in the number of foreign investment licenses in Saudi Arabia, according to a statement from the Ministry of Justice.

According to the Saudi Arabian General Investment Authority (SAGIA) and the ministry, there were 68 new licenses issued in Q1 of 2017 and 377 in the entirety of 2017, valued at SAR 5.7 billion (1.52 billion).

The Ministry of Justice attributes the increase in investment licenses to the legal and regulatory reforms that allow 100 percent ownership in the engineering, education and recruitment sectors and to the decrease in time and process simplification of the license acquiral process.

“We will continue to invest time and ingenuity to send a clear message that there has never been a better time to invest in Saudi Arabia,” said Farraj Al Dossary, the head of the Riyadh commercial court.