Saudis Reform Investment Law in Bid to Attract Foreigners.

Saudi Arabia has announced new business regulations aimed at attracting more foreign investment to support economic diversification. The updated investment law guarantees investor rights, including the rule of law, fair treatment, and the freedom to transfer funds without delay. Foreign investor licenses will be replaced with a simplified registration process, and service centers will be established to expedite the investment process. The country aims to bring in over $100 billion in foreign direct investment annually by 2030 to develop new industries and create jobs. The updated law takes international practices into account and was developed with input from global investors and organizations. [Extracted from the article]