Riyadh - Sharikat Mubasher: Saudi Arabia’s Ministry of Investment (MISA) issued 65 regional headquarters (RHQ) licenses during the third quarter (Q3) of 2024, marking a 14% increase compared to 57 licenses in the previous quarter.

In its ‘Economic and Investment Monitor Q3 2024’ report, the ministry showcased its efforts to enhance the Saudi investment ecosystem and improve the investor experience.

In Q3-24, MISA addressed 65 challenges facing investors and provided more than 67,000 services via outreach centers. Additionally, it provided over 36,000 services through the One Stop Service Center, showing a 40% quarter-over-quarter (QoQ) increase.

MISA further provided 55,995 e-services to investors via its website in Q3-24, making a 72% growth compared to 32,501 services in Q3-23.

It is worth noting that the number of RHQ licenses witnessed a 477% increase in Q1-24, compared to the same quarter of 2023.

According to the Saudi RHQ Program, having a regional headquarters in the Kingdom is a prerequisite for foreign firms to start or expand their businesses in Saudi Arabia.

MISA added a 30-year relief incentive package to the program to streamline the process for multinational firms establishing their RHQ in Saudi Arabia.