Foreign investment licenses in Saudi Arabia rise 60% in the last quarter of 2020

Arab News
Riyadh is attracting rising international interest as Saudi FDI flows increase. (Reuters)
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  • FDI flows up 20 percent over year
  • Returns to pre-pandemic levels

RIYADH: Saudi Arabia issued 466 investment licenses to foreign investors in the fourth quarter of 2020, a 60 percent jump on a year earlier, Asharq Business reported, citing Saudi government data.
December was the busiest month, with 189 investment licenses issued. Foreign investment flows rose by more than 20 percent during the year.
The report revealed that foreign investment inflows to the Kingdom surged 80 percent in the fourth quarter compared to a year earlier to reach almost $1.9 billion.
The annual results reflect recovery in the investment environment with growth returning to pre-pandemic levels, the report stated.