Saudi Arabia Update – November And December 2017

Legal developments

Saudi Arabia anti-corruption drive and protection of corporates

In the wake of Saudi Arabia's headline-grabbing anti-corruption drive in November, Crown Prince Mohammed bin Salman instructed the Council of Economic and Development Affairs (the Council) to ensure that companies affiliated with individuals subject to investigations are not affected by the Kingdom's efforts to address the issue of corruption. This comes as an move to assure investors that they can continue to operate in Saudi Arabia with confidence.

The Council emphasised that all investigations are in accordance with laws and regulations and that the new anti-corruption measures are a key part of Vision 2030 and creating a fair and level playing field for all.