The Ministry of Investment issued approximately 24,244 investment licenses in 2025, up about 69% year-on-year (YoY), reaching a record high after excluding licenses granted under the National Anti-Commercial Concealment Program “Tasattur”, according to the Economic and Investment Monitor report. 
The ministry stated that the growth reflects the Kingdom’s position as an attractive investment destination, offering strong competitive advantages amid a stable and business-friendly investment environment.
The ministry seeks to promote local investment and attract foreign investment by organizing several events and participating in various forums.
Investment licenses recorded rapid growth since 2021, rising from 2,832 to 4,362 in 2022 (+54%), before nearly doubling to 8,540 (+96%) in 2023. The momentum continued in 2024, with the number increasing to 14,321 licenses (+68%).
Investment licenses since 2021*
Period
Number of Licenses
Growth (%)
2021
2,832
—
2022
4,362
+54%
2023
8,541
+96%
2024
14,303
+67%
2025
24,244
+69%
** Historical data for investment licenses are updatable according to data dynamics
In Q4 2025, the number of investment licenses soared 85% to around 8,516 from 4,615 in Q4 2024.
Investment licenses since 2021*
Period
Number of Licenses**
Growth (%)
Q1 2021
476
+36%
Q2 2021
528
+238%
Q3 2021
852
+178%
Q4 2021
976
+117%
Q1 2022
1216
+155%
Q2 2022
935
+77%
Q3 2022
929
+9%
Q4 2022
1282
+31%
Q1 2023
1636
+35%
Q2 2023
1824
+94%
Q3 2023
2193
+136%
Q4 2023
2887
+125%
Q1 2024
3166
+94%
Q2 2024
2730
+50%
Q3 2024
3810
+74%
Q4 2024
4615
+60%
Q1 2025
4617
+46%
Q2 2025
4125
+51%
Q3 2025
6986
+83%
Q4 2025
8516
+85%
** Historical data for investment licenses are updatable according to data dynamics
Investment licenses surged across several sectors in Q4 2025, led by construction. The sector recorded a 123% increase to 3,018 licenses from 1,354 in Q4 2024, making it the top sector by number of permits issued.
Wholesale and retail trade saw strong growth of 171% YoY to 1,484 licenses, while transportation and storage posted the highest growth among major sectors, rising 188% YoY to 533 licenses.
Conversely, some sectors declined, notably electricity and gas (-53%), mining (-37%), and other services (-39%).
Investment Licenses by Activity in Q4 2025*
Sector
Q4 2024
Q4 2025
Change
Construction
1,354
3,018
+123%
Wholesale retail trade
548
1,484
+171%
Accommodation food services
392
690
+76%
Manufacturing
673
969
+44%
Information communications
389
619
+59%
Transportation storage
185
533
+188%
Professional, educational technical activities
365
382
+5%
Administrative support services
201
257
+28%
Real estate
96
117
+22%
Human Health social work activities
49
107
+118%
Education
56
83
+48%
Agriculture, forestry fishing
46
52
+13%
Financial insurance activities
39
42
+8%
Arts, entertainment recreation
38
41
+8%
Water supply, sewage waste management
35
33
-6%
Mining quarrying
30
19
-37%
Electricity, gas, steam air conditioning
15
7
-53%
Other service activities
104
63
-39%
Total
4,615
8,516
+85%
*Includes licenses issued under Tasattur
The Ministry of Investment issued approximately 24,244 investment licenses in 2025, up about 69% year-on-year (YoY), reaching a record high after excluding licenses granted under the National Anti-Commercial Concealment Program “Tasattur”, according to the Economic and Investment Monitor report.
The ministry stated that the growth reflects the Kingdom’s position as an attractive investment destination, offering strong competitive advantages amid a stable and business-friendly investment environment.
The ministry seeks to promote local investment and attract foreign investment by organizing several events and participating in various forums.
Investment licenses recorded rapid growth since 2021, rising from 2,832 to 4,362 in 2022 (+54%), before nearly doubling to 8,540 (+96%) in 2023. The momentum continued in 2024, with the number increasing to 14,321 licenses (+68%).
Investment licenses since 2021*
Period
Number of Licenses
Growth (%)
2021
2,832
—
2022
4,362
+54%
2023
8,541
+96%
2024
14,303
+67%
2025
24,244
+69%
** Historical data for investment licenses are updatable according to data dynamics
In Q4 2025, the number of investment licenses soared 85% to around 8,516 from 4,615 in Q4 2024.
Investment licenses since 2021*
Period
Number of Licenses**
Growth (%)
Q1 2021
476
+36%
Q2 2021
528
+238%
Q3 2021
852
+178%
Q4 2021
976
+117%
Q1 2022
1216
+155%
Q2 2022
935
+77%
Q3 2022
929
+9%
Q4 2022
1282
+31%
Q1 2023
1636
+35%
Q2 2023
1824
+94%
Q3 2023
2193
+136%
Q4 2023
2887
+125%
Q1 2024
3166
+94%
Q2 2024
2730
+50%
Q3 2024
3810
+74%
Q4 2024
4615
+60%
Q1 2025
4617
+46%
Q2 2025
4125
+51%
Q3 2025
6986
+83%
Q4 2025
8516
+85%
** Historical data for investment licenses are updatable according to data dynamics
Investment licenses surged across several sectors in Q4 2025, led by construction. The sector recorded a 123% increase to 3,018 licenses from 1,354 in Q4 2024, making it the top sector by number of permits issued.
Wholesale and retail trade saw strong growth of 171% YoY to 1,484 licenses, while transportation and storage posted the highest growth among major sectors, rising 188% YoY to 533 licenses.
Conversely, some sectors declined, notably electricity and gas (-53%), mining (-37%), and other services (-39%).
Investment Licenses by Activity in Q4 2025*
Sector
Q4 2024
Q4 2025
Change
Construction
1,354
3,018
+123%
Wholesale retail trade
548
1,484
+171%
Accommodation food services
392
690
+76%
Manufacturing
673
969
+44%
Information communications
389
619
+59%
Transportation storage
185
533
+188%
Professional, educational technical activities
365
382
+5%
Administrative support services
201
257
+28%
Real estate
96
117
+22%
Human Health social work activities
49
107
+118%
Education
56
83
+48%
Agriculture, forestry fishing
46
52
+13%
Financial insurance activities
39
42
+8%
Arts, entertainment recreation
38
41
+8%
Water supply, sewage waste management
35
33
-6%
Mining quarrying
30
19
-37%
Electricity, gas, steam air conditioning
15
7
-53%
Other service activities
104
63
-39%
Total
4,615
8,516
+85%
*Includes licenses issued under Tasattur
