Riyadh - Sharikat Mubasher: The Saudi Ministry of Investment (MISA) issued 3,197 new investment licenses during the first quarter (Q1) of 2024, recent figures released by the ministry showed.

In its “Economic and Investment Monitor Q1-24” report, the ministry revealed it issued 3,157 licenses in Q1-24, excluding licenses issued as part of the anti-concealment law enforcement, marking a 93% rise compared to 1,637 licenses in Q1-23.

Around 81% of total licenses were issued for construction, manufacturing, vocational, educational and technical activities, ICT, accommodation and food, wholesale and retail trade, and repair of motor activities.

The real estate sector registered the highest growth in investment licenses by 253.3% in Q1-24 compared to Q1-23, followed by vocational, educational, and technical activities and agriculture, forestry, and fishing by 141.5% and 129.4%, respectively.

The number of licenses issued for single-member limited liability companies (SMLLC) reached 2,112 in Q1-24, while limited liability companies (LLC) obtained 754 licenses.

In regards to the distribution of licenses by country (a share was calculated for each country participating in the ownership of the capital), Egypt received the highest number of investment licenses issued by MISA with 950 licenses during the first quarter of 2024.