Ministry of Investment issues over 14,000 licenses in 2024

Logo of Ministry of Investment

The Ministry of Investment issued 14,303 licenses in 2024, a rise of 67% year-on-year (YoY), after excluding the licenses issued under the National Anti-Commercial Concealment Program (Tasattur), according to the Economic and Investment Monitor report.

The ministry pointed out that this reflects the Kingdom's position as an attractive investment destination that enjoys strong competitive advantages due to a stable and business-friendly investment environment.

The ministry seeks to promote local investment and attract foreign investments by working to organize many events and participate in various forums.

The following table shows the number of investment licenses since 2021:

Investment Licenses Since 2021*
Period	Number of Licenses	Growth (%)
2021	2832	--
2022	4362	+ 54 %
2023	8541	+ 96 %
2024	14303	+ 67 %

*Data doesn’t include licenses issued under the National Anti-Commercial Concealment Program (Tasattur)

In Q4 2024, the number of investment licenses increased 59% YoY to around 4,597.

Compared to Q3 2024, the number of investment licenses grew 21% from 3,810.

The following table shows the number 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	+36%
Q2 2021	528	+238%
Q3 2021	852	+178 %
Q4 2021	976	+117%
Q1 2022	1216	+155%
Q2 2022	935	+77%
Q3 2022	929	+9%
Q4 2022	1282	+31%
Q1 2023	1636	+35%
Q2 2023	1824	+94%
Q3 2023	2193	+136%
Q4 2023	2888	+125%
Q1 2024	3166	+94%
Q2 2024	2730	+50%
Q3 2024	3810	+74%
Q4 2024	4597	+59%

*Data doesn’t include licenses issued under the National Anti-Commercial Concealment Program (Tasattur)

** Historical data for investment licenses are updatable according to data dynamics

The construction activity came on top with 1,358 licenses in Q4 2024, followed by manufacturing activity with 676 licenses.

Other services activities topped the list year-on-year (YoY) during Q4, with a growth rate of 278%, followed by wholesale and retail trade activity by 188%.

The following table shows the distribution of investment licenses by activity during Q4 2024:

New Investment Licenses by Activity in Q4 2024*

Activity	Q4 2023	Q4 2024	Change (%)
Construction	855	1358	+59%
Manufacturing	487	676	+39%
Wholesale, and Retail Trade	183	527	+188%
Accommodation and Food Service	197	390	+98%
Information and Communication	245	390	+59%
Professional, Scientific and Technical Activities	359	364	+1%
Administrative & Support Services	130	201	+55%
Transportation & Storage	104	185	+78%
Other Services	27	102	+278%
Real Estate	58	96	+66%
Education	51	56	+10%
Health and Social Activities	40	49	+23%
Agriculture, Forestry & Fishing	28	45	+61%
Financial & Insurance Services	20	41	+105%
Arts, Entertainment & Recreation	44	38	(14%)
Water Supply, Sewage Activities and Waste Management	28	35	+25%
Mining & Quarrying	15	29	+93%
Electricity, Gas, Steam and Air Conditioning	15	15	--
Public Administration and Defence	1	--	--
Total	2887	4597	+59%

*Includes licenses issued under the National Anti-Commercial Concealment Program (Tasattur)

Economic Reports

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