AlQa'dah 21, 1436, September 05, 2015, SPA -- Minister of Commerce and Industry Dr. Tawfiq Al-Rabee'a and the Governor of General Investment Authority Eng. Abdullatif bin Ahmed Al-Othman hailed the royal guidance for the two Saudi governmental bodies to examine all trade and investment regimes in order to facilitate the work of international companies and provide them with incentives, including direct action in the Saudi market for those who wish to invest in the Kingdom of Saudi Arabia so that the offers they submit must ensure manufacturing specific time programs, plans for transferring technology, recruitment and training of Saudi citizens. They stressed that the Kingdom of Saudi Arabia would open the door for foreign companies to invest in the wholesale and retail sectors for their products with ownership proportions should exceed those committed by KSA in the WTO and up to the percentage of ownership (100%), in accordance with the conditions and regulations which will be developed by the relevant authorities in the Kingdom. They pointed out that the Kingdom, represented in the General Investment Authority, welcome offers from foreign companies wishing to invest in the Kingdom. Their offers must include future manufacturing plans with specific time programs, the transfer of technology plans, employment and training for Saudi nationals.
