Saudis Reform Investment Law in Bid to Attract Foreigners

Update will replace the current licensing process in 2025
Kingdom wants to hit $100 billion of FDI annually by 2030

Riyadh.
Photographer: Jeremy Suyker/Bloomberg

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By Fahad Abuljadayel

August 11, 2024 at 10:48 AM UTC

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Saudi Arabia announced new business regulations aimed at boosting transparency and easing the process of investing in the kingdom as it looks to attract more foreign capital to support economic diversification.

The updated investment law enhances investor rights by guaranteeing the rule of law, fair treatment and the freedom to transfer funds without delay, among other things, the Ministry of Investment said on Sunday.