More than 50 companies register in Saudi Arabia every day, according to the Federation of Saudi Chambers.
Foreign companies are still setting up in Saudi Arabia at a fast clip, war or not, led by manufacturers and builders chasing the Kingdom's project pipeline.
More than 1,200 new foreign businesses registered in October, Sultan Al-Musallam, Secretary-General of the Federation of Saudi Chambers, told Al Arabiya Business, Argaam reported on Wednesday.
That's more than 50 a day, he said.
Who's coming: manufacturing tops foreign investors' list, followed by construction, Al-Musallam said, given the scale of the Kingdom's infrastructure projects and their pull on supply chains.
Where they're going: not just Riyadh. Many are choosing places like Al-Kharj, home to the Kingdom's second-largest industrial city, and Sudair.
Why they're coming: Al-Musallam credited more than 1,000 legal and economic reforms over the past decade, worked out between the chambers and government agencies.
The bigger picture: non-oil activity now makes up a record 57% of the economy, he said. Big foreign bets have kept arriving through the conflict, from a $5 billion warehouse push to US tech firms.
One caution: a registration isn't an investment. The figures count new businesses, not how much money they bring or how many jobs they create.
What to watch: official foreign direct investment data for the third quarter, which will show whether registrations are turning into real money.
