Saudi Arabia introduces new investment terms

April 6, 2014 9:10 am

The Saudi Arabian Investment Authority (SAGIA) has said it has set new bylaws to the foreign investment regulations requiring foreign investors to create job opportunities for Saudis and increase local economic growth, Saudi Gazette has reported. Foreign investors should present SAGIA with a detailed plan delineating the objectives of the investment, the investor’s financial capability to achieve these goals, how the investment will contribute to market competitiveness and improve services provided to consumers, the number of employees and planned training programmes, said SAGIA’s legal consultant, Ayedh Al-Otaibi.