Saudi Arabia grants licenses to more than 200 projects with 100% foreign ownership

0 6

Get real time updates directly on you device, subscribe now.

YOU MIGHT ALSO LIKE

Saudi Arabia has granted licenses to more than 200 projects with 100 per cent foreign ownership during the third quarter of this year, Saudi Arabia’s Investment Highlights reported.

According to the report, Saudi Arabia has licensed 306 new foreign investment projects; a 21 per cent year-on-year increase relative to 2019.

“Overall, Saudi Arabia licensed 812 new foreign investment projects in the first nine months of 2020, which represents only a three per cent slowdown compared to the same period last year,” it added.

The report confirmed that each month of the third quarter of this year has witnessed an annual increase, while the month of September experienced the largest number of licensed projects.

The report also disclosed that 68 per cent of the projects licensed during the quarter were 100 per cent foreign ownerships, while the remaining projects were joint ventures with Saudi companies.

The largest number of new projects during the quarter came from Egyptian and Indian investors, where 30 projects have been licensed for each, followed by 15 projects by investors from the UK and 15 projects for Lebanese investors.

READ: Saudi Arabia grants licenses to more than 200 projects with 100% foreign ownership 

Middle East Monitor

Subscribe to our newsletter
Sign up here to get the latest news, updates delivered directly to your inbox.
You can unsubscribe at any time

Leave A Reply

Your email address will not be published.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

Privacy & Cookies Policy