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New Saudi investment law treats foreign and local firms equally to encourage business activity

The Arab News reported, Sovereign Saudi Arabia said that the country’s new investment law is expected to increase international business by 50 percent, as it treats both local and foreign investment equally, removing any commercial advantage previously extended to Saudi companies.
Paul Arnold, managing director of Sovereign Saudi Arabia, said: “By legally enforcing the principle of competitive neutrality to public and private investors, this removes any previous commercial barriers to entry."
The corporate service provider helps companies set up operations in the Kingdom while attracting foreign direct investment. Armold said the new investment law is set to increase the attractiveness of doing business in the Kingdom, as it will grant foreign investors the freedom to manage, sell and dispose of their economic projects.

He said: “Whether you’re looking to expand your company’s presence or launch your brand for the first time if you have a contract in hand, it has never been a better time to enter and invest in the Saudi market."
He added that companies will be able to own any necessary properties that will ensure smooth business operations while allowing them to conclude commercial contracts with the full support of all competent authorities.
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Under the new law, both local and foreign investors will be subject to the same sectoral approval requirements for licenses and registration, as well as for approvals or permits for certain economic activities or special economic zones.
Sovereign also noted that the new investment law could boost the country’s gross domestic product as more than $936 million in funds was recently announced at the Global Entrepreneurship Congress 2022 to facilitate the access of international companies into Saudi markets.
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While official data from the World Bank projected the country’s GDP to reach $820 billion by the end of 2022, Sovereign expects the recent policy development to help Saudi Arabia surpass that projection as the business activity is set to increase significantly in the Kingdom.
Source: arabnews
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Aimed at secondary school students, the event brought together a distinguished group of academic professionals and technology experts to mentor and inspire young participants.
More than 100 high school students from across the Kingdom of Bahrain took part in the hackathon, which featured an intensive programme of training workshops and hands-on sessions. These activities were tailored to enhance participants’ critical thinking, collaborative problem-solving, and team-building capabilities, while also encouraging the development of practical and sustainable solutions to contemporary challenges using modern technological tools.
BENEFIT’s Chief Executive Mr. Abdulwahed AlJanahi, commented: “Our support for this educational hackathon reflects our long-term strategic vision to nurture the talents of emerging national youth and empower the next generation of accomplished female leaders in technology. By fostering creativity and innovation, we aim to contribute meaningfully to Bahrain’s comprehensive development goals and align with the aspirations outlined in the Kingdom’s Vision 2030—an ambition in which BENEFIT plays a central role.”
Professor Riyadh Yousif Hamzah, President of the Royal University for Women, commented: “This initiative reflects our commitment to advancing women in STEM fields. We're cultivating a generation of creative, solution-driven female leaders who will drive national development. Our partnership with BENEFIT exemplifies the powerful synergy between academia and private sector in supporting educational innovation.”
Hanan Abdulla Hasan, Senior Manager, PR & Communication at BENEFIT, said: “We are honoured to collaborate with RUW in supporting this remarkable technology-focused event. It highlights our commitment to social responsibility, and our ongoing efforts to enhance the digital and innovation capabilities of young Bahraini women and foster their ability to harness technological tools in the service of a smarter, more sustainable future.”
For his part, Dr. Humam ElAgha, Acting Dean of the College of Engineering and Technology at the University, said: “BuildHer CityHack 2025 embodies our hands-on approach to education. By tackling real-world problems through creative thinking and sustainable solutions, we're preparing women to thrive in the knowledge economy – a cornerstone of the University's vision.”
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