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Saudi Cabinet agrees on foreigners' ownership of projects
Saudi Arabia-International, Economics, 4/12/2000
The Saudi Cabinet agreed on a new law for foreign investment that allows foreigners to have complete ownership of projects and properties related to it.
The new law states that licensed foreign investments to be owned by a national and a foreign investor or completely owned by a foreign investor.
According to this law, foreign corporations are allowed to own the necessary properties in the limits of their need to practice their activity or as houses for all or some of its workers.
Previous Stories:
Morocco, Saudi Arabia set up friendship parliamentary group
(4/12/2000)
Saudi prince opens Saudi embassy in Canberra
(4/7/2000)
Saudi Arabia to allow greater foreign investment
(3/29/2000)
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