Saudi Arabia Commentary
2018 has witnessed many developments, reforms and initiatives towards promoting growth in the private sector and attracting foreign investment into Saudi Arabia. In line with Vision 2030, the government is working towards improving the Kingdom’s rankings in the World Bank’s Doing Business report. The 2018 Doing Business report cites Saudi Arabia for its reforms in several areas, including enforcing contracts, protecting minority investors and making it easier to trade across borders.
Tayseer, a government committee consisting of over 20 government entities created with the objective of improving the business climate for the private sector, has played an important role in effecting reforms and increasing the efficiency of government services. Such reforms include the introduction of instant municipal licences for certain activities, the issuance of building permits within 15 days in certain instances, and reducing the requirements for incorporation of companies.
