Riyadh – Mubasher: Saudi Arabian General Investment Authority (SAGIA) may halt issuing traditional licences and replacing them with digital ones in the coming period.
Investors can obtain digital licences through registering in SAGIA’s website, said informed sources.
SAGIA asked the related parties to approve digital licences, as well as the previously-issued traditional ones until notifying the Ministry of Municipal and Rural Affairs and the Ministry of Commerce and Industry to stop issuing traditional ones.
Issue of digital licences came in line with SAGIA’s plans to automate and ease its services in a bid to boost investments in Saudi Arabia and attract further inflows.
SAGIA previously noted that issuance of investment licences in the Kingdom will take less than four hours in the coming period.
