Saudi Arabia attracts 184 regional HQs from foreign companies

Saudi Arabia attracted 184 foreign companies to establish their regional headquarters within the Kingdom during first half of 2024, as reported by the Ministry of Investment of Saudi Arabia (MISA).

This significant increase is attributed to the Kingdom’s strategic efforts to enhance its investment climate and appeal to global enterprises.

In the second quarter alone, 57 companies obtained investment licenses, reflecting an 84% rise compared to the same period in 2023. Combined with 127 licenses issued in the first quarter, the total number of licenses for the first half of the year reached 184.

The report also noted a 49.6% increase in overall investment licenses, with a total of 2,728 issued during this timeframe. Leading sectors driving investment include construction, manufacturing, education, technology, and retail, while mining and quarrying experienced the most rapid growth, with a 209.1% year-on-year surge in licenses.

Saudi Arabia’s initiatives to boost investment included the launch of the “Sustainability Pioneers” program in Riyadh, which aims to foster collaboration in environmental sustainability. Other key initiatives focused on fashion, education, and international partnerships, such as the Saudi-British Strategic Partnership Council.

Moreover, Saudi Arabia secured the 28th World Investment Conference, scheduled for November 2024 in Riyadh, underscoring its dedication to global cooperation, digital transformation, and sustainability.

Saudi Arabia attracts 184 regional HQs from foreign companies in 2024