Saudi Arabia issues record number of foreign investor licences

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Riyadh

Saudi Arabia has seen a big demand for foreign investor licenses in Q1 2021 since its records began in 2005, the Ministry of Investment of Saudi Arabia (MISA) said in a report.

The issuance of 478 new licenses breaks the previous record, set as recently as Q4 2020, and marks a 2.6 percent quarterly increase and a 36.2 percent annual increase relative to the same quarter of last year, the report said.

The first quarter of 2021 also recorded the fourth consecutive increase in the number of new foreign investment projects since the peak of the pandemic in Q2 2020.

Khalid Al Falih, Minister of Investment of Saudi Arabia, said: “Despite common global challenges, more and more investors are starting businesses in the Kingdom, FDI inflow into Saudi Arabia is at its highest level since 2016 when Vision 2030 was launched, and global interest in Saudi financial assets traded on our Tadawul stock exchange continues to grow.”

While 114 new licenses were issued in Q1 2021 for the manufacturing sector.—Zawya News

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