Business in Saudi: Saudi Arabia has changed its law. According to the new law, people from other countries can also do real estate business in Mecca and Medina of Saudi Arabia. According to Arab media, this was announced by the Capital Authority.
It has emphasized that people from other countries should work according to the law while doing business. Under these rules, foreign individuals and institutions will not be able to invest more than 49 percent in the total shares of the company.
Saudi will give more opportunities to investors
Apart from this, foreign investors will also be allowed to invest in shares of Saudi companies registered in the Saudi financial market. Allowing business in Saudi Arabia is a part of Saudi Arabia’s economic strategy and the vision of the Crown Prince 2030. Foreign investment in real estate will give further growth to this sector. Saudi Arabia can also give better offers to investors in the coming time.
What is Vision 2030?
Let us tell you that Saudi Arabia is a country whose economy is dependent on oil. In such a situation, Crown Prince of Saudi Arabia Mohammed bin Salman has recently announced “Vision 2030”. Under this, he wants to remove the dependence of Saudi economy from oil. He is developing Saudi in such a way that more and more tourists come here. Apart from this, money should come to Saudi from other businesses.
What is the promise?
Under Vision 2030, Saudi Arabia has pledged to improve the business environment so that its economy can grow and prosper. Better employment opportunities can be created for the Saudi people and everyone can prosper. This promise is based on cooperation and mutual responsibility. This is the “Vision of Saudi Arabia 2030”.
