Riyadh – Mubasher: Last year saw a huge increase in foreign investment licenses in Saudi Arabia, with a 54% growth compared with 2018.

This marked the highest increase in a decade, as shown by the data of the Saudi Arabian General Investment Authority (SAGIA).

Foreign investment licenses exceeded 150 licenses in 2019, and the fourth quarter (Q4) of the year was the most active period throughout the year, as the number of new foreign companies investing in the Kingdom increased to 305, compared with 238 companies for the same period in the previous year.

The Kingdom attracted investments from India, the UK, the US, Egypt, France, and China, among other countries.

SAGIA further noted that 2019 saw the establishment of 193 construction companies, 190 manufacturing companies, and 178 information and communication technology companies.

Infrastructure projects also witnessed increased investments, in line with Saudi Vision 2030.