RIYADH — Saudi Arabia has successfully carried out over 800 reforms which has put it on the path of unprecedented rapid transformation, Eng. Ibrahim Al Mubarak, Assistant Minister of Investment, has said.
Al Mubarak, who is also the CEO of Saudi Investment Promotion Authority (SIPA), made this known while outlining the Kingdom’s comprehensive efforts to enhance its investment environment during the 2025 Budget Forum on Wednesday.
He listed some of the key reforms to include the enactment of Civil Transactions Law, Bankruptcy Law, Public-Private Partnership Program, and the Government Tenders and Procurement Law.
“These initiatives have propelled Saudi Arabia to rank 16th globally on the IMD World Competitiveness Index,” the official added.
Al Mubarak reaffirmed SIPA’s commitment to advancing reforms, fostering a business-friendly environment, and building local talent to solidify the Kingdom’s position as a premier investment destination.
The 2025 Budget Forum discussed the country’s new Investment Law, tailored to serve both local and international investors, expected to be implemented early next year.
Al Mubarak explained that the law upholds principles such as the rule of law, fair transactions, property rights, investment freedom, and intellectual property protection.
He also said Saudi Arabia recorded significant growth in foreign direct investment (FDI) inflows, which exceeded the National Investment Strategy’s 2023 target by 16%.
“Saudi Arabia now ranks second among G20 nations for net FDI growth and fourth globally for FDI stock growth, which rose by 13% to nearly SR900 billion in 2023. Foreign investors’ participation in the Kingdom’s financial markets surpassed SR350 billion.”
Al Mubarak added that Saudi Arabia has become a regional business hub, with over 500 foreign companies establishing their regional headquarters in the Kingdom, surpassing the 2023 target set by the Regional Headquarters Programme.
Al-Mubarak also noted that more than 37,000 investment licenses have been issued, a tenfold increase since the launch of Vision 2030.
