Ministry of Investment issues 3,157 licenses in Q1 2024

11/06/2024 Argaam Special
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The Kingdom of Saudi Arabia's flag

The Ministry of Investment issued nearly 3,157 licenses in Q1 2024, a rise of 93% year-on-year (YoY), after excluding the licenses issued under the National Anti-Commercial Concealment Program (Tasattur). 

 

Compared to Q4 2023, the number of investment licenses increased over 9% from around 2,884. 

 

The following table shows the development of investment licenses since the first quarter of 2020:

 

Investment Licenses since 2020*

Period

Number of Licenses

Growth Rate

Q1 2020

351

+19%

Q2 2020

156

(46%)

Q3 2020

307

+22%

Q4 2020

449

+55%

Q1 2021

476

+35%

Q2 2021

528

+234%

Q3 2021

854

+178%

Q4 2021

976

+117%

Q1 2022

1,216

+156%

Q2 2022**

938

+78%

Q3 2022**

930

+9%

Q4 2022**

1,282

+31%

Q1 2023**

1,639

+35%

Q2 2023**

1,819

+94%

Q3 2023**

2,192

+136%

Q4 2023

2,884

+125%

Q1 2024

3157

+93%
*The data does not include licenses issued under the campaign to rectify the status of violators of Tasattur.

**Updated data

 

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