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Economic Reforms

استمع

The most prominent legislative and regulatory reforms in Saudi Arabia:

  1. ​Raising foreign ownership to 100% in the sectors of engineering, minerals, defense, transportation, wholesale and retail trade, education, health, publishing and media.
  2. Issuing the Contractors' Classification System (CCS).
  3. Modifying the Precious Minerals and Gems Law.
  4. Issuing the New Bankruptcy Law and its executive regulations.
  5. Issuing the Commercial Mortgage Law and its implementing regulations.
  6. Improving the executive regulations of the Capital Market Authority and the Companies Law to enhance the protection of minority investors.
  7. Improving the regulations of the Saudi Building Code.
  8. Establishing the Saudi Center for Commercial Arbitration.
  9. Issuing the resolutions number 713 and 476, to seek public feedback on rules and regulations before been approved.
  10. Issuing the new Government Tenders and Procurement Law and its executive regulations.
  11. Issuing the Movable Asset Guarantees Law and its executive regulations.
  12. Issuing the Commercial Courts Law and its executive regulations.

Last update: 20 January 2022