The Legal Security Of Private Foreign Investment In The Kingdom Of Saudi Arabia

Author : Mohammed Alharbi
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)

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Download or read book Foreign Investment Attracted by Saudi Arabia written by Mohammed Alharbi and published by . This book was released on 2023 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The purpose of this dissertation is to research and analyze foreign investment in Saudi Arabia in order to advance international practices in all sectors. Furthermore, finding the most effective methods and implementing them in the Kingdom of Saudi Arabia while complying with Sharia, regulations, and corporate traditions includes discovering and adopting the best practices. Because Western industrialized countries' oil businesses were the first to provide it, the history of foreign investment has been more complex. The impacts of the government's decision to indigenize sectors and, as a result, the transfer of authority and power to the country's and Saudi Arabia's natural reserves, began to influence attitudes toward foreign investment in the Arab nations and Saudi Arabia. The following section examines some of the most essential components of the newly passed regulations governing "foreign investment" in the Kingdom of Saudi Arabia. These laws are primarily concerned with the Foreign Investment Act and related requirements, but they also consider a number of other pertinent pieces of legislation. Furthermore, the negative elements of foreign investment as well as the importance of international investment in Saudi Arabia are being explored.Saudi Arabia is a developing country, and as such, it provides huge potential commercial prospects to anybody wishing to invest from outside. Foreign direct investment, or FDI, is an essential component of economies across the world. Foreign direct investment (FDI) might be thought of as a long-term investment. Furthermore, the government approved a new bankruptcy law in August 2018 with the purpose of simplifying the obligations and rights of investors who are suffering financial difficulties. The new rule differentiates between insolvency and bankruptcy, offers measures for economic restructuring and preventative settlements, explains liquidation procedures, and identifies the circumstances that may lead to it. The Saudi government issued a royal decree outlining seven investing principles that stress the adoption of fairness and transparency into investment policy. These guidelines may be found here. In addition, the government implemented new bankruptcy legislation to further specify the obligations and safeguards afforded to investors in financial distress. A Vision 2030 for the KSA is founded on three pillars: "a strong economy; an ambitious country; and a dynamic society." As a result, the fundamental goal of Vision 2030 is to increase Saudi Arabia's diversity and competitiveness. The Kingdom of Saudi Arabia's Vision 2030 spells out the techniques to be employed in carrying out the kingdom's established policies. FDI is one of the key elements of the Vision 2030 plan, as KSA intends to provide a favorable business climate for foreign investors to participate in the country's economic progress.