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Saudi Arabia sets record with 2100 new investment licenses in Q3 of 2023

The Saudi Ministry of Investment has revealed that it issued more than 2100 investment licenses in the third quarter of 2023, with a growth rate of 135.4 percent on an annual basis. This does not include licenses issued as part of the campaign to combat violators of the Anti-Commercial Concealment (tasattur) Law

The ministry said that the growth in the volume of issued licenses reflects the Kingdom’s position as an attractive investment destination that enjoys strong competitive advantages represented by a stable and supportive business environment.

The ministry issued on Wednesday the monthly bulletin on the performance of the most prominent economic and investment indicators in the Kingdom, showing positive growth rates in the third quarter of 2023. The social and personal services activity achieved the highest growth rate at 11.8 percent, followed by the wholesale and retail trade, restaurants and hotels with a rate of 5.4 percent while transportation, storage and communications activity recorded a growth of 5.1 percent.

Read the full story at Saudi Gazette

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