The foreign investor will be fined more than 500,000 riyal (Dh490,000).
Local media has reported that the Saudi Shura Council has made an amendment to the Foreign Investment Act by the country’s formal advisory body. A fine of 500,000 riyal (Dh490,000) has been imposed on a foreign investor. It came during the regular session of the House. Which was held through a video conference led by Speaker Speaker Speaker Sheikh Dr. Abdullah Al Sheikh..
Came after hearing a report submitted on the proposal to amend Article 2 of Article 12 of the Foreign Investment Act.
The decision came after the Economic and Energy Committee heard a report on the proposal to amend Article 2 of article 12 of the Foreign Investment Act.
The country has intensified after joining the WTO in 2005.
Saudi Arabia is becoming a fast one in the world economy. Which has intensified after the country joined the WTO in 2005. The Kingdom is also making significant investments in developing international partnerships and trade links and attracting foreign investment and expertise.
