Saudi Arabia unveils seven principles to raise investment

JEDDAH: Saudi Arabia has unveiled seven investment principles, issued by royal decree and based on international best practice, that will support the development of a competitive investment environment in the Kingdom.
“The rapid pace of economic transformation in the coming years is opening exciting investment opportunities, both in Saudi — a G20 economy opening up to international businesses — and in the broader Middle East,” said Ibrahim Al-Omar, governor of the Saudi Arabian General Investment Authority (SAGIA).
The investment principles are: Ensure equality between Saudi and foreign investors; ensure protection of investments; enable sustainability of investment; provide access to equal investment incentives; implement social and environmental standards and ensure investor compliance with Saudi health, safety and environmental regulations; facilitate access procedures for foreign workers and their families; and ensure a solid transfer of knowledge, technology and enhancement of local human capital.