Media ININ Economy We Trust
MediaIn / Riyadh February 26, 2018
The Saudi Arabian General Investment (SAGIA) announced the extension of the license period for foreign investment to five years renewable, giving the investor the option of reducing the license period by a minimum of one year.
“The measures taken will motivate leading international companies to inject more investments in line with the vision of the Kingdom of Saudi Arabia 2030, to enhance the competitiveness of the investment environment in the Kingdom and to make it more attractive for attracting foreign investment,
He pointed out that this decision comes as an extension of the work of the Authority in hedging investment in the Kingdom, noting the recent procedures on the issuance of licenses, modification or renewal, which has overcome difficulties for investors, where the licenses took two days, and is now issued within four hours, Procedures, reducing the required documents, training and qualifying cadres.
SAGIA is working to improve the regulatory and procedural environment to enable quality investments in the business community, develop infrastructure to facilitate business and create an attractive environment for investors, so that the business movement becomes easier and more efficient.
