-- Saudi Arabia announced new business regulations aimed at boosting transparency and easing the process of investing in the kingdom as it looks to attract more foreign capital to support economic diversification.NYC Subway Riders See ‘Exceptionally High’ Air Pollution
Saudi Arabia has taken several steps in recent years to attract foreign investment, including issuing visas specifically for investors, creating special economic zones with lower tax rates, and introducing new laws related to civil transactions and bankruptcy. FDI inflows amounted to just over $19 billion in 2023 — above the annual average of $17 billion from 2017-2022 but shy of last year’s target of $22 billion. The kingdom took in $4.5 billion in the first quarter and is targeting flows of $29 billion for 2024.Saudi Arabia said the updated law takes international practices into account and was developed after soliciting input from global investors and organizations.
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