Saudi Arabia grants over 800 licenses to local, foreign investors in Q3 2019: Invest Saudi

A special report issued recently by Invest Saudi titled “Investments Highlights” showed that the number of licenses granted to new investors accounted for more than 800 in Q3 2019, around 31 percent of which were accredited to foreign investors.

Foreign investors grew 30 percent year-on-year (YoY) to 251 in Q3, 66 percent of which are full foreign ownership and 34 percent are joint venture partnerships with Saudi investors.

The new investments cover the following sectors; information and communication, construction, manufacturing, professional scientific and technical, wholesale and retail trade, administrative and support services, accommodation and food services, transportation and storage, financial and insurance, and human health. 

The top countries investing in Saudi Arabia are India (39 investments), United States (21), Jordan (21), United Kingdom (18), Egypt (17), The Netherlands (10), France (10) and China (9).

Invest Saudi was created by the General Investment Authority (SAGIA) as a key initiative of the National Transformation Program (NTP). It acts as the national investment promotion brand of the Kingdom.

Write to Christine El Cheikh at christine.elcheikh@argaamplus.com