Saudi Arabia is levelling the playing field for domestic and international investors and easing regulatory restrictions as the Arab world’s largest economy seeks to boost foreign investments.
The Council of Ministers on Sunday approved an updated investment law into one framework intended to provide investors with greater transparency, flexibility and confidence, Saudi Arabia's Ministry of Investment said in a statement on Sunday.
“The law reaffirms Saudi Arabia’s commitment to creating a welcoming and secure environment for investors, driving economic growth, and enhancing the kingdom’s position as a premier global investment destination,” Khalid Al Falih, Minister of Investment, said.
“The policy direction outlined in Vision 2030 allows investors to invest with certainty and to grow with confidence at a time when many other markets are experiencing considerable volatility.”
Saudi Arabia has passed reforms to improve its business environment and boost foreign investment to help drive its economic transformation agenda. The kingdom aims to attract foreign funds for its giga-projects under the Vision 2030 plan to reduce its reliance on oil.
Investment-friendly measures introduced by Saudi Arabia in recent years include the civil transactions law, private sector participation law, companies law, bankruptcy law and regulations for special economic zones.
Foreign direct investment (FDI) inflows into the kingdom stood at $19.3 billion last year, compared with $32.8 billion in 2022, according to data from the Ministry of Investment. FDI inflows jumped by 158 per cent from $7.46 billion in 2017 to $19.3 billion in 2023.
Saudi Arabia recorded a 0.6 per cent year-on-year increase in FDI inflow to 17 billion Saudi riyals ($4.5 billion) in the first quarter of 2024, according to data from the kingdom's General Authority for Statistics.
The kingdom aims to attract $100 billion annually in FDI by 2030 to boost non-oil gross domestic product and has set a goal of increasing FDI to 5.7 per cent of GDP by the end of the decade.
Saudi Arabia's updated investment law's executive regulations will come into effect at the beginning of 2025, according to a ministry statement on Sunday.
The updated law seeks to bring the rights and duties of domestic and foreign investors in line with international practices and replace foreign investor licensing requirements with a simplified registration process.
It also aims to promote “equal treatment between the domestic and foreign investors under similar circumstances” and re-evaluate the restrictions of economic activities to treat domestic and foreign investors equally.
It also seeks to attract domestic and foreign investments by granting incentives according to “specific objective and pre-announced eligibility and evaluation standards”, the ministry said.
The updated investment law also tackles the promotion of investors' rights such as the protection of intellectual property, ensures fair competition and outlines the methods of effective dispute resolution.
A service centre will provide facilities to streamline procedures related to government transactions, including assistance to streamline the flow of investments, it added.
What is the FNC?
The Federal National Council is one of five federal authorities established by the UAE constitution. It held its first session on December 2, 1972, a year to the day after Federation.
It has 40 members, eight of whom are women. The members represent the UAE population through each of the emirates. Abu Dhabi and Dubai have eight members each, Sharjah and Ras al Khaimah six, and Ajman, Fujairah and Umm Al Quwain have four.
They bring Emirati issues to the council for debate and put those concerns to ministers summoned for questioning.
The FNC’s main functions include passing, amending or rejecting federal draft laws, discussing international treaties and agreements, and offering recommendations on general subjects raised during sessions.
Federal draft laws must first pass through the FNC for recommendations when members can amend the laws to suit the needs of citizens. The draft laws are then forwarded to the Cabinet for consideration and approval.
Since 2006, half of the members have been elected by UAE citizens to serve four-year terms and the other half are appointed by the Ruler’s Courts of the seven emirates.
In the 2015 elections, 78 of the 252 candidates were women. Women also represented 48 per cent of all voters and 67 per cent of the voters were under the age of 40.
The specs
Engine: 2.7-litre 4-cylinder Turbomax
Power: 310hp
Torque: 583Nm
Transmission: 8-speed automatic
Price: From Dh192,500
On sale: Now
Without Remorse
Directed by: Stefano Sollima
Starring: Michael B Jordan
4/5
How much do leading UAE’s UK curriculum schools charge for Year 6?
- Nord Anglia International School (Dubai) – Dh85,032
- Kings School Al Barsha (Dubai) – Dh71,905
- Brighton College Abu Dhabi - Dh68,560
- Jumeirah English Speaking School (Dubai) – Dh59,728
- Gems Wellington International School – Dubai Branch – Dh58,488
- The British School Al Khubairat (Abu Dhabi) - Dh54,170
- Dubai English Speaking School – Dh51,269
*Annual tuition fees covering the 2024/2025 academic year
Fighting with My Family
Director: Stephen Merchant
Stars: Dwayne Johnson, Nick Frost, Lena Headey, Florence Pugh, Thomas Whilley, Tori Ellen Ross, Jack Lowden, Olivia Bernstone, Elroy Powell
Four stars
THE BIO: Martin Van Almsick
Hometown: Cologne, Germany
Family: Wife Hanan Ahmed and their three children, Marrah (23), Tibijan (19), Amon (13)
Favourite dessert: Umm Ali with dark camel milk chocolate flakes
Favourite hobby: Football
Breakfast routine: a tall glass of camel milk
Green ambitions
- Trees: 1,500 to be planted, replacing 300 felled ones, with veteran oaks protected
- Lake: Brown's centrepiece to be cleaned of silt that makes it as shallow as 2.5cm
- Biodiversity: Bat cave to be added and habitats designed for kingfishers and little grebes
- Flood risk: Longer grass, deeper lake, restored ponds and absorbent paths all meant to siphon off water
Classification of skills
A worker is categorised as skilled by the MOHRE based on nine levels given in the International Standard Classification of Occupations (ISCO) issued by the International Labour Organisation.
A skilled worker would be someone at a professional level (levels 1 – 5) which includes managers, professionals, technicians and associate professionals, clerical support workers, and service and sales workers.
The worker must also have an attested educational certificate higher than secondary or an equivalent certification, and earn a monthly salary of at least Dh4,000.
Why are asylum seekers being housed in hotels?
The number of asylum applications in the UK has reached a new record high, driven by those illegally entering the country in small boats crossing the English Channel.
A total of 111,084 people applied for asylum in the UK in the year to June 2025, the highest number for any 12-month period since current records began in 2001.
Asylum seekers and their families can be housed in temporary accommodation while their claim is assessed.
The Home Office provides the accommodation, meaning asylum seekers cannot choose where they live.
When there is not enough housing, the Home Office can move people to hotels or large sites like former military bases.
