Foreign investments in new entities jump 108% in H1 2021, says ministry

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Saudi Arabia's Ministry of Investment stated that foreign investments in new entities soared 108% to reach 1,054 entities during the first half of 2021, compared to 509 a year earlier, Saudi Press Agency reported.

In its official Twitter account, the ministry added that foreign entities accounted for 55% of the total 1,054 entities in H1 2021, while joint ventures with Saudi partners dominated 45% of the total.

Meanwhile, foreign entities represented 73% of the total 509 in H1 2020, while joint ventures with Saudi partners accounted for 27% of the total.

The second quarter of 2021 witnessed a remarkable improvement in the total number of issued licenses by 21% compared with the first quarter, the ministry stated.

The retail sector ranked first in the number of licenses with 24%, followed by the industrial sector with 20%.