Arab News, Monday, Sep 13, 2021 | Safar 6, 1443
Saudi investment licenses double on retail, joint ventures with foreign investors
Saudi Arabia:
The number of joint ventures
between Saudi and foreign investors jumped in the first half of this year with
the Kingdom seeing a doubling in the total amount of investment licenses issued
to Saudis and non-Saudis.
Saudi Arabia’s Investment Ministry said on Sunday
the number of licenses issued to new investors during the first half of 2021
reached 1,054, an increase of 108 percent as compared to the same period last
year, the Saudi Press Agency reported.
The ministry said joint investment licenses
between Saudi and foreign investors amounted to 45 percent of the total licenses
issued in the first six months of 2021, while the figure was 27 percent during
the same period last year.
The ministry said the second quarter of 2021
recorded a noticeable improvement during which the retail sector ranked first in
the number of licenses issued with 24 percent followed by the industrial sector
with 20 percent.