Britain, China Lead Way in New Saudi Business Licenses

The number of new licenses approved for foreign businesses in Saudi Arabia rose by 70 percent in the first quarter from a year earlier, according to the Saudi Arabia General Investment Authority.

Applications from British and Chinese companies drove the increase, rising by 86 percent and 71 percent, respectively, Ibrahim Al Omar, governor of Sagia, as the kingdom’s investment-promotion body is known, said in an interview. The fastest-growing industries were education -- which the kingdom only opened to foreign investors in November -- and information and communications technology, Al Omar said.