Licensed investments in Saudi Arabia double in 2018: SAGIA

14/01/2019 Argaam

 

Licensed investments in Saudi Arabia doubled in 2018, Saudi Press Agency (SPA) reported, citing the Saudi Arabian General Investment Authority (SAGIA).

 

Expansion requests also doubled for the year, whereas investor satisfaction reached 94 percent in 2018, the data showed.

 

The time needed to issue new licenses and amend requests was cut to two and a half hours and three hours, respectively.

 

The networks and information technology sector saw the largest increase in investments jumping 200 percent year-on-year (YoY), followed by technical and scientific offices at a 155 percent YoY increase for 2018.

 

The retail and wholesale sector came third at 103 percent YoY, while the manufacturing industries saw their investments increase by 74 percent YoY.

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