During the first half of 2024, Saudi Arabia successfully attracted 184 foreign companies to establish their regional headquarters in the Kingdom, according to the Ministry of Investment of Saudi Arabia (MISA). This surge is credited to the Kingdom’s strategic efforts to improve its investment environment and attract global businesses.
In the second quarter alone, 57 companies secured investment licenses, marking an 84% increase compared to the same period in 2023. This, combined with 127 licenses issued in the first quarter, brought the total number of licenses issued in the first half of the year to 184.
Overall, there was a 49.6% rise in investment licenses, with 2,728 licenses granted during this period. Notable sectors driving this growth include construction, manufacturing, education, technology, and retail. The mining and quarrying sector saw the most significant increase, with a 209.1% year-on-year growth in licenses.
In addition to these developments, Saudi Arabia launched the “Sustainability Pioneers” program in Riyadh to promote environmental sustainability and has introduced other key initiatives in fashion, education, and international cooperation, such as the Saudi-British Strategic Partnership Council. The Kingdom will also host the 28th World Investment Conference in Riyadh in November 2024, highlighting its commitment to global collaboration, digital transformation, and sustainability.
