Saudi opens 4 sectors to foreign investors

By October 24, 2018News

Saudi Arabia’s Cabinet approved changes to the foreign investment rules concerning the service sector.

The updates, approved on Tuesday, will see recruitment, audio and video, road transport and real estate brokerage services removed from the list of activities unavailable to foreign entities.

This means that foreign firms can obtain investment licenses for those four areas.

Currently, there are 320 qualified foreign institutions registered in the Saudi stock market, Tadawul, according to the exchange’s chairwoman, Sarah Al-Suhaimi. Who also said that there are 200 more expected to register.

The Saudi Arabian General Investment Authority (SAGIA) made the changes in a move to support the Vision 2030 reforms.

 

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