Ministry of Investment Issues 575 Investment related Licenses

Total number of investment licenses issued, stood at as many as 575, pushing the Ministry of Investments to make an annual increase of 20%, in the second quarter of 2021, compared to the same period of the previous year.

Registering a new high level for the third quarter, in a row, in joint ventures, with Saudi companies accounted for the largest share of licenses, the ministry reported, indicating that the Saudi firms obtaining 46% of the total new licenses.

This came in the investment summary report “Summer 2021” issued by the Ministry of Investment, which dealt with the most important developments of investors, in various sectors.

As well as the most prominent developments, in the transport and logistics sector, as the presentation displayed new foreign investment projects, in addition to the most prominent investment opportunities on the “Invest in Saudi” platform.

Minister of Transport and Logistics, Eng. Saleh Al-Jasser, was the first to comment in the report, stressing that the Kingdom of Saudi Arabia places the transport and logistics sector, at the heart of its efforts to achieve Vision 2030, as the wise leadership of the Kingdom realizes the extent of the importance of this sector and its intersection with many other fields, from the Hajj and Umrah to tourism, through industry and trade, linking the Kingdom’s major and huge projects.

Such roles played by the transport and logistics sector abound, he stated, pointing out that the recently announced National Strategy for Transport and Logistics aims to make the Kingdom a global hub for logistics services, and aspires.

Ultimate goal, he reasserted, is to achieve other goals of the strategy, such as improving the quality of life, in the Kingdom, and raising the level of performance of public utilities.

Highlighting the most recent developments, in the transport and logistics sector, which is an essential element, in the Kingdom’s journey towards achieving Vision 2030, based on the Kingdom’s regional and global role linking international trade lines, the report elaborated, adding that due to its strategic location, in the middle of three continents, and investment opportunities the Kingdom entertains, in the transport and logistics sector.

It also touched investment opportunities, in the transport and logistics sector, including the development of a complex of warehouses equipped with a temperature-controlled system, in the second and third industrial cities, in Jeddah, and the development of a station for the manufacture of railways and wheels to meet the increasing demand for the railway system, in the Kingdom, pointing to the Kingdom’s distinction, in location. The exceptional geography of it, put it at the intersection of the three continents of Asia, Europe and Africa, giving it strategic advantages.

Especially, at the level of the transport and logistics sector, which leads to easy access to markets.

Referring to the achievements of investors, most notably, Saudi Aramco’s conclusion of an infrastructure deal worth $12.4 billion with an international coalition of investors, the report, indicated, in addition to the most prominent investment projects, in the sectors of tourism, energy, entertainment, industry and manufacturing, mining and minerals, education, and financial services, as well as food and beverage, healthcare and life sciences, entrepreneurship and innovation, and retailer trade.

Mentioning the most prominent developments of mega projects, namely: NEOM and King Abdullah University of Science and Technology, that entered into a joint project to establish the largest coral reef garden, in the world, NEOM, the report spotlighted Tabuk Fish company signing a memorandum of understanding to develop the largest fish farm, in the Middle East and North Africa, and the Red Sea Development company, securing a $3.76 billion loan and the first green credit facility denominated in Saudi riyals, the Al-Ula master plan that provides investment opportunities worth $15 billion.

Reviewing investment opportunities, in the Kingdom, the report included: a seaside resort with an investment of $117 million, in the “tourism and quality of life” sector, a studio for developing electronic games, with an investment of $17 million, in the “information and communication technology” sector, and a silicon smelter with an investment value of $140 million, in the “Mining and Metals” sector.