Saudi Arabia`s most recent investment law is expected to increase international business in the country by 50 percent and significantly increase the country’s non-hydrocarbon gross domestic product.
The new law treats all investment equally, therefore removing any and all commercial advantages or disadvantages of local and foreign owned business. It emphasizes the principle of competitive neutrality to public and private investors and removes any previous commercial entry barriers.
As a result, the reform will increase the attractiveness for doing business in the Kingdom of Saudi Arabia, as it will allow foreign investors to hold, lease and sell assets more independently. Under the new law, the investors will be subject to the same requirements for approvals, licenses and permits for specific activities.
The World Bank projects the GDP of the Kingdom of Saudi Arabia to reach SAR 3.08 trillion (USD 820 billion) by the end of 202. At the Global Entrepreneurship Congress , the key stakeholders have announced to avail more than SAR 3.51 billion (USD 936 million) in financing or funding to facilitate the access of international businesses into the national markets.
Please click on the link to learn more about the latest developments in the region and the opportunities and possibilities in the Kingdom of Saudi Arabia as well as the initiatives of Business Start Up Saudi Arabia.
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