Al-Falih: Saudi Arabia amended 50% of 400 investment laws
Half of them have been amended later with the aim of improving the investment climate as it is being the priority of the ministry: minister
Investment Minister, Khalid Abdulaziz Al Falih, speaks during the fourth annual Future Investment Initiative in Riyadh, Saudi Arabia, January 27, 2021.
By Staff Writer, Saudi Gazette
RIYADH — Minister of Investment Khaled Al-Falih said that Saudi Arabia has enacted as many as 400 investment laws, and half of them have been amended later with the aim of improving the investment climate as it is being the priority of the ministry.
Attending the second session of the Future Investment Initiative conference here on Wednesday, the minister said that the Kingdom provides investors with a lot of confidence, and has made leaps in the indices of doing business.
“When the coronavirus pandemic tested the capabilities of countries in managing crises, the Kingdom has proven its worth and won the confidence of investors. We dealt with the crisis much better than others,” he said.
Al-Falih said that the world is facing great challenges and changes in the concept of the economy. “Hence we must now focus on the technologies and sectors of the future, such as digitization,” he said while adding that there has been an increase in the inflow of foreign direct investment in 2020 while comparing to the previous year.
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