Saudi Arabia’s Investment Licenses Hit Record High

Saudi Arabia’s Ministry of Investment reported a sharp acceleration in new investment activity in 2025, with 24,244 investment licenses issued over the year. That represented growth of about 69% compared with 2024 and marked a record level after excluding licenses granted under the National Anti‑Commercial Concealment Program, known as Tasattur.

The ministry said the rise in licenses demonstrates the Kingdom’s position as an increasingly attractive investment destination, citing strong competitive advantages and what it described as a stable, business‑friendly environment. It added that it is promoting both local and foreign investment through events and participation in international forums.

Investment licenses have expanded rapidly since 2021, when 2,832 were issued. That total increased to 4,362 in 2022, 8,541 in 2023 and 14,303 in 2024, before reaching 24,244 last year. The year‑on‑year growth rates over that period ranged from 54% to 96%, underscoring the sustained upward trend.

On a quarterly basis, the pace of license issuance also strengthened through 2025. Licenses rose 46% year on year in the first quarter to 4,617, and 51% in the second quarter to 4,125. Growth accelerated to 83% in the third quarter, when 6,986 licenses were granted.

The final three months of 2025 saw the sharpest increase. In the fourth quarter, 8,516 investment licenses were issued, up 85% from 4,615 in the same period of 2024. The ministry noted that historical license data may be updated over time as underlying datasets are revised, but the figures point to a broad‑based upswing.

The quarterly numbers since 2021 show that growth has been consistently positive, with particularly strong expansions in several quarters of 2023 and 2024. The ministry’s monitor report attributes this momentum partly to ongoing policy efforts to enhance the investment climate.

The sector breakdown for the fourth quarter of 2025 shows especially strong growth in construction, wholesale and retail trade, and transportation and storage. Construction licenses more than doubled, rising 123% to 3,018 from 1,354 a year earlier, making it the largest sector by number of permits.

Wholesale and retail trade licenses increased 171% year on year to 1,484, while accommodation and food services gained 76% to 690. Manufacturing licenses rose 44% to 969, and information and communications licenses climbed 59% to 619. Transportation and storage recorded the fastest growth among major sectors, with licenses up 188% to 533.

Several smaller segments also posted notable increases. Human health and social work activities saw licenses rise to 107 from 49, and education licenses grew to 83 from 56. At the same time, some sectors declined, including electricity, gas, steam and air conditioning supply, where licenses fell from 15 to 7, mining and quarrying, down from 30 to 19, and other service activities, down from 104 to 63.

In its Economic and Investment Monitor report, the Ministry of Investment linked the surge in licenses to broader reforms aimed at attracting capital and diversifying the economy. It pointed to ongoing efforts to organize investment‑focused events and participate in international forums as part of a strategy to raise the Kingdom’s profile.

Officials described the environment as increasingly competitive for investors, highlighting both macroeconomic stability and regulatory initiatives that seek to simplify procedures. While license counts do not directly measure actual capital deployed, the sustained rise since 2021 and the broad sectoral participation suggest a widening base of planned business activity.

With 2025 marking a new high in permits across multiple sectors, the data provide an updated snapshot of where interest is strongest and where it has softened, offering context for investors assessing opportunities in the Saudi market.