Positive indicators carried by the visit of the Custodian of the Two Holy Mosques King Salman bin Abdulaziz, may God protect him, to the United States of America recently, and increased the importance of the visit coincided with the Saudi-American Investment Conference, which had the greatest impact on focusing on the economic aspect. The historic royal decision to open the Saudi markets for foreign companies to enter it with their full weight to work side by side with their local counterparts comes at the right time in line with the Kingdom's general economic policies, especially after allowing foreign companies to enter the Saudi stock market.
<p class="p1The first fruit of this wise decision is the tightening of the siege on many companies and traders who practice monopolies of all kinds by entering major manufacturers of monopolized products, which means lower prices and making competition ignite in the local market, which is full of many major companies that monopolize products by acquiring them. This has had a negative impact on the rest of the companies and brought them into the accounts of unfair competition, causing a noticeable distortion in the local investment market, especially since obtaining the agency in most cases comes in crooked ways that increase the market sores and poisons spread by some investors.
<p class="p1Foreign companies will enter the Saudi market through the widest doors to put an end to real estate monopolists in major malls, who exaggerate their rents to other medium and small companies until the price per square meter in some malls reached a mythical price of 50,000 riyals! While those themselves - i.e. owners of global brands - the owners of other malls to reduce the prices per square meter to the lowest level, so the owner of the mall concerned is forced to comply with their request to rent stores for their brands at a low price, all these distortions are created by large investors to keep the largest number of their competitors out of the market.
<p class="p1The entry of foreign companies will reduce the number of loops through which products pass to reach the public at the lowest prices and an estimated percentage in saving hard currency for the national economy by rationalizing direct imports from the country of origin.
On the other hand, opportunities will be available for national companies to benefit from the presence of their foreign counterparts to gain experience and technology, in addition to providing new job opportunities for Saudi youth. So the King's historic decision is in the interest of the nation, eliminating monopoly and opening new horizons for Saudi youth to gain experience and expertise in various fields.
Editor-in-Chief
