Saudi Arabia Achieves Record with 2,100 New Investment Licenses Granted in Q3 2023
In the third quarter of 2023, Saudi Arabia issued a record 2,100 new investment licenses according to the Ministry of Investment, marking a 135.4% increase from the previous year, not counting licenses related to enforcing the Anti-Commercial Concealment Law.
The surge in licenses highlights Saudi Arabia's appeal as a prime investment destination with a stable, conducive business environment.
Recent economic data shows robust performance across sectors, with social and personal services growing by 11.8%, and the trade, restaurant, and hotel sectors by 5.4%. The transportation, storage, and communication sectors saw a 5.1% increase.
Real estate prices climbed slightly by 0.7% due to a 1.1% rise in residential costs, despite marginal decreases in commercial and agricultural property values.
The total market value of shares in the primary market reached SR 11.4 trillion ($3 trillion), up 5.3%. Despite this, foreign trade dropped by 14.1%, and the trade balance fell by 53.8%, due to a 24.9% fall in exports.
Recent economic data shows robust performance across sectors, with social and personal services growing by 11.8%, and the trade, restaurant, and hotel sectors by 5.4%. The transportation, storage, and communication sectors saw a 5.1% increase.
Real estate prices climbed slightly by 0.7% due to a 1.1% rise in residential costs, despite marginal decreases in commercial and agricultural property values.
The total market value of shares in the primary market reached SR 11.4 trillion ($3 trillion), up 5.3%. Despite this, foreign trade dropped by 14.1%, and the trade balance fell by 53.8%, due to a 24.9% fall in exports.
