Saudi Arabia Accelerates Transformation with Over 800 Investment Reforms

KSA, 28 November, 2024 : Saudi Arabia has implemented more than 800 reforms, marking rapid progress in enhancing its investment environment, according to Eng. Ibrahim Al Mubarak, Assistant Minister of Investment and CEO of the Saudi Investment Promotion Authority (SIPA). Speaking at the 2025 Budget Forum, Al Mubarak highlighted pivotal laws such as the Civil Transactions Law, Bankruptcy Law, Public-Private Partnership Program, and Government Tenders and Procurement Law, which have propelled the Kingdom to 16th place globally on the IMD World Competitiveness Index.

The upcoming Investment Law, set to take effect in early 2025, aims to serve both local and international investors while promoting principles like fair transactions, property rights, and intellectual property protection. Al Mubarak also noted a 16% surplus in foreign direct investment (FDI) inflows above the 2023 target, with FDI stock growing 13% to nearly SR900 billion.

Saudi Arabia ranks second among G20 nations for net FDI growth and fourth globally for FDI stock growth. Over 500 foreign companies have established regional headquarters in the Kingdom, exceeding the 2023 target of the Regional Headquarters Program, while more than 37,000 investment licenses have been issued since Vision 2030’s launch.

These reforms solidify Saudi Arabia’s status as a regional business hub and a leading global investment destination.