The Ministry of Investmentheadquarters
The Ministry of Investment issued nearly 6,986 licenses in Q3 2025, a rise of about 83% year-on-year (YoY), after excluding the licenses issued under the National Anti-Commercial Concealment Program (Tasattur). 
This represents the highest number of licenses issued in a single quarter.
The number of issued investment licenses also rose by about 69% quarter-on-quarter from 4,125 licenses, according to the monthly bulletin on the performance of Saudi Arabia’s key economic and investment indicators issued by the Ministry of Investment.
As a result, the total number of new investment licenses issued during the first nine months of 2025 reached around 15,730 licenses, exceeding the total number issued during the whole of 2024, which stood at 14,320 licenses.
The ministry noted that this reflects the Kingdom’s position as an attractive investment destination, backed by strong competitive advantages, including a stable and business-friendly investment environment.
The following table shows the development of investment licenses since the first quarter of 2020:
Development of Investment Licenses Since 2020*
Period
Number of Licenses**
Growth Rate
Q1 2020
351
+19%
Q2
156
(46%)
Q3
307
+22%
Q4
449
+55%
Q1 2021
476
+36%
Q2
528
+238%
Q3
852
+178%
Q4
976
+117%
Q1 2022
1216
+155%
Q2
935
+77%
Q3
929
+9%
Q4
1282
+31%
Q1 2023
1636
+35%
Q2
1824
+95%
Q3
2193
+136%
Q4
2887
+125%
Q1 2024
3166
+94%
Q2
2730
+50%
Q3
3810
+74%
Q4
4615
+60%
Q1 2025
4617
+46%
Q2
4125
+51%
Q3
6986
+83%
** Historical investment license figures are subject to updates based on data dynamics.
According to the report, most of the issued investment licenses were concentrated in construction, wholesale and retail trade, and manufacturing, which together accounted for approximately 66% of total licenses during Q3 2025.
Investment licenses by Sector in Q3 2025
Sector
Q3 2024
Q3 2025
Change
Construction
1062
2583
+143%
Wholesale, and Retail Trade
363
1214
+234%
Manufacturing
599
803
+34%
Accommodation Food Services
279
563
+102%
Information Communications
341
517
+52%
Professional, Educational Technical Activities
378
316
(16%)
Transportation storage
186
314
+69%
Administrative Support Services
186
212
+14%
Real Estate
69
92
+52%
Human Health Social Work Activities
39
86
+121%
Education
40
81
+103%
Other Service Activities
57
42
(26%)
Agriculture, Forestry Fishing
55
40
(27%)
Water Supply, Sewerage Waste Management
41
35
(15%)
Arts, Entertainment Recreation
34
31
(9%)
Financial Insurance Services
28
30
+7%
Mining Quarrying
35
25
(29%)
Electricity, Gas, Steam and Air Conditioning
16
2
(88%)
Public Administration and Defense
2
0
—
Total
3810
6986
+83%
The Ministry of Investmentheadquarters
The Ministry of Investment issued nearly 6,986 licenses in Q3 2025, a rise of about 83% year-on-year (YoY), after excluding the licenses issued under the National Anti-Commercial Concealment Program (Tasattur).
This represents the highest number of licenses issued in a single quarter.
The number of issued investment licenses also rose by about 69% quarter-on-quarter from 4,125 licenses, according to the monthly bulletin on the performance of Saudi Arabia’s key economic and investment indicators issued by the Ministry of Investment.
As a result, the total number of new investment licenses issued during the first nine months of 2025 reached around 15,730 licenses, exceeding the total number issued during the whole of 2024, which stood at 14,320 licenses.
The ministry noted that this reflects the Kingdom’s position as an attractive investment destination, backed by strong competitive advantages, including a stable and business-friendly investment environment.
The following table shows the development of investment licenses since the first quarter of 2020:
Development of Investment Licenses Since 2020*
Period
Number of Licenses**
Growth Rate
Q1 2020
351
+19%
Q2
156
(46%)
Q3
307
+22%
Q4
449
+55%
Q1 2021
476
+36%
Q2
528
+238%
Q3
852
+178%
Q4
976
+117%
Q1 2022
1216
+155%
Q2
935
+77%
Q3
929
+9%
Q4
1282
+31%
Q1 2023
1636
+35%
Q2
1824
+95%
Q3
2193
+136%
Q4
2887
+125%
Q1 2024
3166
+94%
Q2
2730
+50%
Q3
3810
+74%
Q4
4615
+60%
Q1 2025
4617
+46%
Q2
4125
+51%
Q3
6986
+83%
** Historical investment license figures are subject to updates based on data dynamics.
According to the report, most of the issued investment licenses were concentrated in construction, wholesale and retail trade, and manufacturing, which together accounted for approximately 66% of total licenses during Q3 2025.
Investment licenses by Sector in Q3 2025
Sector
Q3 2024
Q3 2025
Change
Construction
1062
2583
+143%
Wholesale, and Retail Trade
363
1214
+234%
Manufacturing
599
803
+34%
Accommodation Food Services
279
563
+102%
Information Communications
341
517
+52%
Professional, Educational Technical Activities
378
316
(16%)
Transportation storage
186
314
+69%
Administrative Support Services
186
212
+14%
Real Estate
69
92
+52%
Human Health Social Work Activities
39
86
+121%
Education
40
81
+103%
Other Service Activities
57
42
(26%)
Agriculture, Forestry Fishing
55
40
(27%)
Water Supply, Sewerage Waste Management
41
35
(15%)
Arts, Entertainment Recreation
34
31
(9%)
Financial Insurance Services
28
30
+7%
Mining Quarrying
35
25
(29%)
Electricity, Gas, Steam and Air Conditioning
16
2
(88%)
Public Administration and Defense
2
0
—
Total
3810
6986
+83%
