The General Investment Authority hosted more than 50 representatives from a British company operating in the Kingdom and explained during a workshop held recently at the Authority’s headquarters, that it had implemented approximately 222 reforms to the Kingdom’s investment environment, and discussed the most significant challenges and obstacles they might face, as well as the role of relevant government agencies in overcoming those obstacles, in the presence of officials from the Ministry of Justice, the General Authority for Zakat and Income, the Itmad Platform, and the Saudi Center for Commercial Arbitration.
The workshop presented to representatives of British companies the most significant reforms to the investment environment in line with the Kingdom’s Vision 2030, as well as the Kingdom’s most important and promising target sectors, the Authority’s role in developing investment opportunities in those sectors, and the Authority’s advanced services designed to support the goal of increasing the contribution of foreign direct investment to the Saudi economy.
The workshop featured a presentation on the role of the Executive Committee for Improving Performance in the Private Sector and Encouraging Its Participation in Economic Development (“Taysir”) in addressing the obstacles faced by private-sector companies, with the aim of streamlining procedures, improving the business environment, and achieving better results,
The workshop also included a comprehensive explanation of the dispute resolution mechanism between companies and various entities, presented by a representative of the Saudi Center for Commercial Arbitration. During his presentation, he addressed the Center’s role in overseeing arbitration proceedings in commercial and related civil disputes, noting that the Center aims to create a secure and attractive regulatory environment for foreign and domestic investment in the Kingdom of Saudi Arabia by removing obstacles and difficulties related to the settlement of commercial disputes between parties.
It is worth noting that, through such meetings, the General Investment Authority seeks to remove barriers facing foreign companies operating in the Kingdom with the aim of expanding their investments and attracting more foreign investment to achieve economic diversification and strengthen the partnership between the public and private sectors.
