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)
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