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ARTICLE · 07 MARCH 2016

Saudi Arabia Update - February 2016

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Saudi Arabia seeks to draw investors to help reduce its reliance on oil exports and aims to facilitate foreign companies' investment in its market.

Saudi ArabiaGovernment, Public Sector
Amgad Husein
Amgad Husein
Anas Akel
Anas Akel
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Legal developments

Local partner requirement reported to cease

Saudi Arabia seeks to draw investors to help reduce its reliance on oil exports and aims to facilitate foreign companies' investment in its market. The Saudi Arabian General Investment Authority (SAGIA), the Ministry of Commerce and Industry (MOCI), and the Ministry of Labor (MOL) are working together in a triple sectorial committee to review factors that impede foreign investment in the country and eliminate all obstacles slowing down global investment. When the committee concludes its studies, the requirement of a local partner in some sectors is likely to be removed according to local media sources.

Arab News – 1 February 2016

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