Saudi Arabia Issues Over 36,000 Investment Licenses Since Vision 2030 Launch

 

Riyadh – Saudi Arabia’s economic transformation continues to gather momentum, with the Kingdom issuing more than 36,000 investment licenses since the launch of Vision 2030. This marks a fivefold increase compared to the period before the reform program was introduced. 

The surge in investment activity reflects growing investor confidence in the Kingdom’s evolving business landscape. Data from 2024 shows an impressive 118% increase in entrepreneurial licenses and a 123% jump in permits within the wholesale and retail trade sectors. 

Key to this momentum is the Kingdom’s strategic reform of its regulatory environment. In August 2024, Saudi Arabia introduced an updated investment law aimed at reinforcing protections for international investors. The revised legislation provides greater clarity around property rights, intellectual property protection, and equitable treatment, while also ensuring smoother cross-border fund transfers. 

These reforms, championed under the Invest Saudi initiative, are designed to position the Kingdom as a regional investment hub. The platform continues to support foreign direct investment (FDI) by simplifying business procedures and offering competitive incentives. 

Sectors seeing significant traction include manufacturing, construction, professional and scientific services, and ICT. Another major milestone was achieved with more than 500 global companies choosing Saudi Arabia as the site for their regional headquarters, surpassing Vision 2030’s original goal. 

Leading firms such as Morgan Stanley, Citi Group, BlackRock, and PepsiCo are among those now operating from Saudi Arabia. These businesses benefit from targeted advantages, including a 30-year corporate tax exemption on headquarters activities and tailored investment incentives. 

Saudi Arabia’s National Investment Strategy aims to expand FDI from SAR 17 billion ($4.5 billion) in 2019 to SAR 388 billion by 2030, while also raising the contribution of investment to GDP from 22% to 30% over the same period. 

As the Kingdom deepens its economic diversification, the upward trajectory of licensing activity underlines the growing appeal of Saudi Arabia as a destination for long-term global investment.