Ministry of Investment issues 3,157 licenses in Q1 2024

Logo of Ministry of Investment

The Ministry of Investment issued nearly 3,157 licenses in the first quarter of 2024, a rise of 93% year-on-year (YoY), after excluding the licenses issued under the National Anti-Commercial Concealment Program (Tasattur).

Compared Q4 2023, the number of investment licenses increased 9% from around 2,884.

The total number of new investment licenses reached 3,197 for the same period.

The following table shows the development of investment licenses since the first quarter of 2020:

Investment Licenses since 2020*
Period	Number of Licenses	Growth Rate
Q1 2020	351	+19%
Q2 2020	156	(46%)
Q3 2020	307	+22%
Q4 2020	449	+55%
Q1 2021	476	+35%
Q2 2021	528	+234%
Q3 2021	854	+178%
Q4 2021	976	+117%
Q1 2022	1216	+156%
Q2 2022	938	+78%
Q3 2022	930	+9%
Q4 2022	1282	+31%
Q1 2023	1639	+35%
Q2 2023	1819	+94%
Q3 2023	2192	+136%
Q4 2023	2884	+125%
Q1 2024	3157	+93%

^{*The data does not include licenses issued under the campaign to rectify the status of violators of Tasattur.}

According to the report, the building and construction activity topped the new investment licenses during Q1 2024, with 864 licenses, followed by manufacturing activity with 620 licenses.

The following table shows the distribution of investment licenses by sector during Q1 2024:

New Foreign Investment Projects by Sector in Q1 2024
Sector	No. of licenses
Construction	864
Manufacturing	620
Professional, Scientific and Technical Activities	396
Information and communication	263
Accommodation and Food Service	221
Wholesale, and Retail Trade	218
Administrative & Support Services	135
Transportation & Storage	105
Real Estate	53
Education	40
Water Supply, Sewage Activities and Waste Management	40
Agriculture, Forestry & Fishing	39
Mining & Quarrying	35
Arts, Entertainment & Recreation	32
Health and Social Activities	31
Other	27
Financial & Insurance Services	21
Electricity, Gas, Steam and Air Conditioning	15
Public Administration and Defense	2
Total	3157

*Including licenses issued under the campaign to rectify the violators status of the National Anti-Commercial Concealment Program (Tasattur).

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