In a revolutionary move, the Saudi government has allowed 100 percent ownership of businesses by expatriates in many business sectors.
Saudi Deputy Minister of Commerce and CEO of the National Competitive Center, Dr. Iman Al-Tairi, said in Seoul, the capital of South Korea, that the Saudi government has allowed foreigners to own 100 percent of many business sectors to ensure maximum foreign investment. The acquisition is allowed.
This was said at the ceremony of the Saudi-Korean Business Forum on Tuesday. Saudi Minister of Commerce Dr. Majid Al-Qasabi said that Saudi Arabia’s Vision 2030 has paved the way for extraordinary diversification in economic affairs. As a result, the way for further development of the economy has been paved. Now, the way of rich diversification in the business sector of Saudi Arabia has been paved.
The Saudi-Korean Business Forum was also attended by the Ambassador of Saudi Arabia to South Korea, Sami Al-Sadan. About 400 delegates from public and private sector enterprises participated.