Introduction
Saudi Arabia is rapidly transforming into an investment hub, driven by its Vision 2030 initiative, which aims to diversify the economy and reduce dependence on oil.
Sectors
Energy
Saudi Arabia has announced plans to become the region's renewable energy hub by 2030, recognizing the importance of a diverse energy mix for its longterm economic prosperity.
Industrial
One of the world’s fastest-growing countries in the manufacturing sector, with 7.5% average growth every year. The sector is now the third largest non-oil contributor to the Saudi economy.
Agriculture
The sector is well-known for its authentic Halal food items and has the potential to lead the $1.3 trillion global Halal industry.
Mining & Metals
In Saudi Arabia, the sector holds significant potential for local mining to meet metal and mineral demands, fueled by economic transformation and burgeoning manufacturing needs. The sector emerges as a compelling prospect for investors, given abundant resources, domestic market needs, industrial growth endeavors, and access to MENA export markets.
Health
The healthcare and life sciences sector accounts for 17.7% of the country's budget expenditure in 2021, making it the Kingdom's third-largest recipient of government funding.
Education
The expansive GCC education market, now open to full foreign ownership since 2017, offers significant private sector growth potential. Aligned with Vision 2030, investment in education is central to shaping future leaders.
Entrepreneurship
Saudi Arabia is facilitating business establishment through the Entrepreneurship License offering full foreign ownership. The ecosystem is solidifying the country’s regional prominence, fostering growth via accelerators, co-working spaces, funding initiatives, and regulatory enhancements to bolster startups.
Financial Services
The sector is expected to play an even greater role in supporting the development of the national economy, diversifying its sources of income, providing different sources of financing, attracting foreign capital, and stimulating savings and investments.
Information Technology
The young and growing population of digital natives, forward-thinking regulators, and government authorities, a low-tax environment, and a robust base of highly skilled creative talent are positioning the Kingdom at the forefront of the global digital content and media ecosystem.
Logistics
Other sectors include without limitation or restriction tourism following the 2022 FIFA World Cup, hospitality attracting leisure and business travelers, retail with some of the largest shopping malls, sports with major regional and international events as well as media, construction, and real estate.
Tourism
The sector expects to attract over 100 million local and international visits per year and become a leading international tourism hub by 2030.
Environment & Sustainability
Saudi Arabia's rapidly expanding environment services sector is fueled by population growth, improved living standards, and industrial development. With a focus on regulatory enhancement, it aims to elevate this sector, especially in water and waste management, in line with the sustainability goals.
Stakeholders
Ministry of Investment (MISA/SAGIA)
It is a government ministry in Saudi Arabia that oversees foreign investment in the country besides issuing licenses to foreign investors.
Ministry of Commerce and Industry (MCI)
Ministry of Foreign Affairs (MOFA)
Ministry of Education (MOE)
Ministry of Interior (MOI)
Ministry of Labor (MOL)
General Organization for Social Insurance (GOSI)
Ministry of Justice (MOJ)
Absher
Zakat, Tax & Customs Authority (ZATCA)
Aramco
It is the world’s largest oil producer and is primarily state-owned and is
based in Dhahran, Saudi Arabia. It is the world’s most profitable company, eclipsing even tech giants such as Apple and Alphabet’s Google.
PIF (Public Investment Fund)
STC (Saudi Telecommunication Company)
SITE (Saudi Information Technology Company)
Tonumus / Neom
The Saudi Technology Development & Investment Company (TAQNIA)
Localize technology commercialize outputs of R&D centers in addition to
investing in technology that contributes towards Saudi Arabia’s economic
diversification.
Saudi Entertainment Ventures (Seven)
The Red Sea Development Company
Aces
Rosen
Rosen is a pioneer in hiring locally and training Saudi nationals to international industry standards. The working atmosphere is employee friendly and having employees from 11 nations makes for a truly global workplace.
Elm
Elm is the leading provider of innovative secure services & solutions to both public and private sectors in Saudi Arabia. It provides readymade e-services, customized IT solutions, governmental support services, and consultations.
Giga & Mega Projects
Neom
Neom offers many unique investment opportunities of different sizes across multiple industries. Its location links three continents and it is backed by PIF and local & international investors.
Red Sea Global
Red Sea Global is a two world-leading responsible and regenerative tourism destination that has massive investment and partnership potential for hospitality and tourism. The pioneering developer is owned by PIF
Roshn
ROSHN is a national community developer and Public Investment Fund project is focused on contributing to the demands for increased homeownership across Saudi Arabia
Diriyah
Diriyah is located just 20 minutes northwest of Riyadh’s city center and will be transformed into one of the world’s foremost lifestyle destinations for culture and heritage, hospitality, retail, and education, and will become one of the world’s great gathering places.
Qiddiya
Qiddiya, a public Investment fund project, is set to become the capital of Entertainment, Sports, and Arts. It will be a disruptive destination that offers innovative, immersive, and unparalleled experiences, all integrated on a scale never been seen before.
Amaala
Amaala is a 4,155 km2 year-round destination that will offer 3,000 hotel rooms across some 25 hotels, as well as private residential villas, apartments, and estate homes, alongside high-end retail establishments, fine dining, and wellness and recreational facilities.
Sindalah
Sindalah is a luxury island in the Red Sea. It is a special getaway filled with unforgettable sights, sounds, and moments. A location powered by the world's latest tech and complemented by exhilarating natural beauty.
Oxagon
Oxagon is building an advanced and clean industrial ecosystem, accelerating approaches of Industry 4.0 and the principles of circularity. Oxagon is a greenfield opportunity that puts people, innovation, and sustainability at its core.
Trojena
Trojena will be an iconic, world-class destination, blending natural and developed landscapes, and offering unique human-centric experiences for residents and visitors alike. The destination will house six distinctive clusters that blend real with virtual architectural and engineering innovations.
The Line
The Line is a cognitive city stretching across 170 kilometers, from the epic mountains of NEOM across inspirational desert valleys to the beautiful Red Sea. A mirrored architectural masterpiece towering 500 meters above sea level, but a land-saving 200 meters wide.
Sedra
Sedra is an integrated community inspired by the designs of Salmani architecture, encouraging residents to connect and enjoy nature as part of their daily life.
Alfulwa
Alfulwa covers an area of more than 10.8 million square meters and is located 7km from the center of Al Hofuf city, the major urban center in the Al-Ahsa Oasis in the Eastern Province. It will feature more than 18,000 residential units with a population capacity of over 100,000 people.
Benefits of a Business Set Up in Saudi Arabia
- Strategic Location and Market Access
- Robust and Diversified Economy
- Investor-Friendly Policies
- Access to Government Contracts and Projects
- Stable and Supportive Government
- Abundant Workforce and Talent Pool
- Cost-Competitive Environment
Steps to Establish a Business in Saudi Arabia
Setting up a business in Saudi Arabia involves three key stages:
Pre-Licensing
Assessing possibilities and evaluating options
Licensing
Applying for the relevant licenses, permits and approvals
Post-Licensing
Completing all steps to commence operations, including visas, office setup, insurance, and banking
We look forward to understanding your objectives and business plans, enabling us to determine the best course of action for your business in Saudi Arabia.
Licensing Platforms in Saudi Arabia
Foreign investors have a number of options to set up a business in Saudi Arabia with,
and without a local partner on the mainland and in the free zones.
Ministry of Investment of Saudi Arabia (MISA)
MISA is facilitating access to these opportunities by developing a vibrant crossgovernment investment ecosystem while supporting businesses throughout their investment journey. Through a network of dynamic business centers across the Kingdom, MISA partners with local and international businesses of all scales and sizes— from startups to blue-chip multinationals—to help make investing in the Kingdom as streamlined and simple as possible.
The granting of new licenses to invest in the Kingdom of Saudi Arabia and procedures of amendment requests of existing licenses are based on a fixed base that Saudi Arabia is seeking to attract and enable serious investments that contribute positively to the development of the national economy and sustainable development, including the following:
- Transfer and localization of technical knowledge.
- Diversifying sources of income in the Kingdom of Saudi Arabia.
- Increase exports.
- Development of local manpower.
- Enhance the competitiveness of the economy in the local and global markets.
- Balanced development between the administrative regions of the Kingdom.
Ministry of Commerce (MEC)
MEC seeks to play a pivotal role in the growth and sustainability of the Kingdom’s commercial sector and to keep up with the ever-evolving changes and developments in trade globally. The Ministry aims to strengthen the Kingdom’s economic position as a preferred hub for trade in the Middle East and around the world.
Providing a comprehensive and integrated road map to fulfill its ambitious objective of leading the Saudi trading sector in a fair and stimulating environment. The Ministry’s message centers around the crucial role it has been playing in enhancing the business climate in the Kingdom through the adoption, development, and oversight of flexible and fair commercial laws regulations, and policies, as well as the strengthening of strategic alliances with various relevant local and international authorities in order to strengthen the bonds of trust between the seller and the customer.
By adhering to an integrated system of established values that place an emphasis on justice, respect for rights, creativity, teamwork, speed of response, and a constant effort to provide value-added services that exceed the expectations of all categories of customers, it helps to maximize the contribution of the commercial sector to the support and sustainability of the national economy.
