Foreign investment licenses in Saudi Arabia issued in Q3 2022 reach 1,163

Logo of Ministry of Investment 

Saudi Arabia’s Ministry of Investment issued 1,163 new investment licenses to foreign companies in the third quarter of 2022.

Excluding the number of new licenses issued under the National Anti-Commercial Concealment Program (Tasattur), 928 licenses were issued during the three-month period, a rise of 9% year-on-year (YoY), the ministry said.

It added that this reflects the Kingdom's position as an attractive investment destination, with strong competitive advantages represented in its stable and supportive investment environment, in addition to the availability of local inputs, young human resources, and strategic geographical location.

The following table illustrates the number of foreign investment licenses issued since early 2021:

The construction sector topped with the highest number of licenses with a leap of 19% compared to a year earlier.

 

The wholesale and retail trade came second with 233 licenses, followed by manufacturing industries with 186.

 

The industry recovered through investment in infrastructure and major projects, amid growing demand from the private sector.

 

The table below indicates the number of investment licenses by sectors during Q3 2022: 

 

New foreign investment Licenses by sector in Q3 2022
Sector	No.
Construction	234
Wholesale and Retail Trade	233
Manufacturing Industries	186
Academic & Professional Activities	113
Information and Communication	95
Accommodation and Food	89
Administrative & Support Services	36
Transportation and Storage	34
Real Estate Activities	30
Water Supply, Sewage and Waste Management	20
Human, Health and Social Work	18
Agriculture, Forestry and Fishing	14
Art, Entertainment & Recreation	13
Financial and Insurance Activities	13
Education	12
Other Services	11
Mining and Quarrying	7
Electricity and Gas	5
Total	1163