The Saudi Ministry of Investment revealed the growth in the volume of licenses granted for investment in the Kingdom during the first quarter of this year by 20 percent during the past quarter and the comparable quarter of the previous year.
The Ministry of Investment announced that the growing volume of licenses confirms previous visions on the strength of the national economy to be a safe incubator for foreign investments, even in light of difficult crises.
It disclosed that 348 licenses were issued for foreign investment during the first quarter of 2020, an increase of 19 percent over the same period in 2019. And 20 percent over the last quarter of last year, at the same time disclosing that the movement of investment activity has witnessed a slowdown during the last short period due to the repercussions of the Corona (Covid-19) epidemic on the world economy.
In a report on quarterly investment developments, the Ministry revealed that the emerging sectors received the largest share of foreign licenses, as the education, financial services, and housing sectors had a quarterly increase of 57 percent, followed by the manufacturing, manufacturing, communications technology, and information technology sectors.
India, the United States, Lebanon, and the United Kingdom topped the list of new foreign investments in the Saudi market.
Source (Al-Sharq Al-Awsat newspaper, Edited)
