(MENAFN) As the Kingdom increasingly establishes itself as an investment destination in accordance with the objectives established in Vision 2030, Saudi Arabia awarded 4,358 investment permits in the last year, an increase of 53.9 percent from 2021.
The number of licenses authorized in the fourth quarter of the last year, excluding those issued under the "Tasattur" anti-concealment program, increased 30.7 percent year over year to 1,276 according to a monthly report from the Kingdom's Ministry of Investment.
According to MISA's report, “this increase reflects the growing position of Saudi Arabia as an attractive investment destination with competitive advantages including a stable and business-friendly investment environment.”
The ministry also disclosed that the government's overall revenues climbed by 5.4 percent from the same time in 2021 to SR283.8 billion (USD75.64 billion) in the fourth quarter of the last year. MISA projects a growth of 27.8 percent annually to bring that amount to SR1.23 trillion in the last year.
The MISA statistics showed that the government was also able to lower its yearly spending by 1.8 percent, to SR331.3 billion, in the fourth quarter of the last year.
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