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Foreign investment allowed in 4 key sectors

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Time: October 23, 2018   

Custodian of the Two Holy Mosques King Salman chairs the weekly session of the Cabinet at Al-Yamamah Palace in Riyadh on Tuesday. — SPA

Saudi Gazette report

RIYADH — Saudi Arabia will allow foreigners to invest in road transport, real estate brokerage, and audiovisual services and recruitment offices and related services.

Minister of Media Awwad Al-Awwad said the Council of Ministers took this decision on Tuesday after reviewing the recommendations of the Council of Economic and Development Affairs and a report of the minister of commerce and investment and chairman of the board of Saudi Arabian General Investment Authority (SAGIA).

Accordingly, the Cabinet decided to amend the list of types of activities exempted from foreign investment.

Al-Awwad said the Cabinet approved regulations for the Education Evaluation Commission.

It also endorsed the setting up of a Coordination Council for Arabic language institutes in non-Arab countries.

This article was first published in Saudi Gazette

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