Licenses granted to foreign and local companies investing in the Kingdom have gone up by more than 90% in third quarter of 2018 compared to the number of licenses issued during the same period last year, according to a report by the Saudi Arabian General Investment Authority (SAGIA).

A total of 499 licenses were issued until the end of Q3 2018.

Deputy Governor of SAGIA for Investor Services and Consultation Ibrahim Bin Saleh Al-Suwayyail said the increase in the umber of investments reflects the qualitative transformation the Kingdom is witnessing.