Saudi Arabia licenses over 162 regional hubs until Q3 2023-end

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The Ministry of Finance said more than 162 regional hubs obtained licenses as of the end of the third quarter of 2023, according to its pre-budget statement for 2024.

This came under Saudi Arabia’s National Investment Strategy and the existing work of various government agencies that aim to improve the attractiveness of the Kingdom’s investment environment, contributing to diverse achievements.

Among the Saudi achievements, MIZA platform was launched to facilitate investor access to private-sector service providers through four fields: business establishment services, financial and tax advisory services, logistical services, and headquarters relocation services.

In addition, the MIZA platform eases the process of obtaining licenses and subsequent governmental approvals for the new businesses’ commercial registries. This is besides assisting companies in finding suitable office spaces as well as housing and schools for employees’ families, the ministry added.

The statement indicated that the Ministry of Investment worked on a mechanism to grant premium Saudi residency to executives of companies’ regional headquarters, in coordination with the Premium Residency Center.