Updated Investment System in the Kingdom of Saudi Arabia 2024
🔹 The Saudi Council of Ministers approved the Updated Investment System, an integrated system that combines the rights and duties of investors under a single legal framework, enhancing transparency and clarity in the investment environment in the Kingdom.
🖍 Distinctive Investor Rights – Updated Investment System💼
🔹 The updated system guarantees investors the right to transfer funds freely inside and outside the Kingdom, in addition to ensuring *equal treatment between local and foreign investors.
🔹 Note : Investors have the right to manage their assets without fear of confiscation, except by a judicial decision and for a fair fee.
Duties and obligations of investors 📜
🔹 Investors must adhere to all Saudi laws and regulations related to investment, in addition to adhering to international agreements to which the Kingdom is a party.
🔹 Note : Investors are obligated to register their investments with the Ministry of Investment before starting any activity.
🖍 Promoting competition and equal opportunities 🌟
🔹 The system seeks to support competitive neutrality and ensure equal opportunities for all investors, which enhances the chances of success of investments in a fair competitive environment.
🔹 Note : The system ensures the application of the principle of fair competition between local and foreign investors under the same conditions.
🖍 Stimulating investment and facilitating procedures 💰
🔹 The system provides investment incentives aimed at attracting more investments to the Kingdom, with a focus on facilitating administrative procedures and providing the necessary support to investors through the competent authorities.
🔹 Note : The new system facilitates the procedures for establishing and owning investments, and provides a clear and transparent mechanism for resolving disputes.
🔹 The updated investment system represents a major step towards enhancing the attractiveness of the Saudi economy to local and international investors. Through this system, the Kingdom provides a more transparent and attractive investment environment, contributing to achieving the goals of Vision 2030.
📄 For more details from the source: You can view the updated investment system profile via the link: [Updated Investment System]:
https://investsaudi.sa/ar/resources/updatedInvestmentLaw
#Investment #Saudi_Arabia #Vision_2030 #Economic_Development #New_Laws #Investment_Environment
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