Expats 'may get permission to invest in Saudi Arabia'
RIYADH, 26 days ago
The Saudi Ministry of Trade and Investment will assess a plan to amend regulations to allow expatriates to invest in the kingdom within specific regulations and standards in addition to paying taxes, said a report.
The move is aimed at attracting quality foreign investment for creating new jobs and contribute to the transfer of knowledge to Saudi Arabia, reported Arab News citing Majed Al Qassabi, minister of trade and investment.
This will help eliminate the phenomenon of commercial cover-up in the country, he stated.
The Saudi Capital Market Authority is currently working with Tadawul to prepare all the legal and technical aspects, said the report.
The declaration of the schedule is expected during the second quarter of this year, it added.