698 Obligations of Foreign Investors Interested in Investing in KSA
Migration Letters
them from possible discrimination, they become more confident and investing in a foreign
nation does not worry them. Investors can invest in Saudi Arabia without partnering with
local partners, which has positively impacted foreign investments because it has eliminated
barriers to entry. The information shared by Alharbi (2023) comes in handy in this research
because it helps to know the current foreign investment laws' impacts on foreign
investments. The information helps to assess the commitment of the government of Saudi
Arabia in supporting foreign investments and thus will be useful in accomplishing the goals
of this research.
Government Initiatives to enhance the achievement of vision 2030
According to the Ministry of Investment (2023), the government of Saudi Arabia has been
active in establishing international investment agreements with various nations worldwide.
Some of the nations that the government has established agreements with are Singapore,
South Korea, France, Switzerland, Malaysia, China, Germany, Spain, and Japan. The
agreements have been important in booting business between Saudi Arabia and these
nations. Investors in the respective nations have an opportunity to expand their businesses
and operations to Saudi Arabia. Expanding businesses and accommodating more investors
from different nations is one of the primary goals of Vision 2030. The action of establishing
international investment agreements is a clear indication that the government is motivated
to achieve Vision 2030. Agreements with nations make business activities and relationships
smooth. As a result, investments thrive. The information by the Ministry of Investment
(2023) is critical to this research because it helps to know if the government of Saudi Arabia
is committed to making Vision 2030 a reality. The commitment of the government to
reaching out to other governments is a clear indication of the government's dedication to
improving foreign investments.
According to the Centre for Business & Economic Research (2020), the government of
Saudi Arabia has done a commendable job in attracting foreign investments. Saudi Arabia
holds the twenty-third position out of the twenty-five largest economies globally. It is
ranked eleventh out of one hundred eighty-one nations regarding ease of doing business.
The government has laid down various measures to attract foreign investors to Saudi
Arabia. Some of them are removing restrictions in foreign exchange, transfer of profits and
capital abroad and foreign transfer. Eliminating such barriers has been critical in
encouraging foreign investors to invest in other nations and choosing Saudi Arabia. Vision
2030 is a cornerstone for increasing foreign investments in Saudi Arabia. It has played an
important role in making Saudi Arabia one of the most competitive nations regarding
foreign investments. The information shared by the Centre for Business & Economic
Research (2020) is rich in details that reveal the strategic initiatives that the government of
Saudi Arabia has implemented with the main aim of increasing foreign investments. The
information adds value to this research by helping to understand the level of commitment
demonstrated by the government of Saudi Arabia in making its country a hub for foreign
investments.
The obligations and requirements for foreign investors interested in investing in KSA
The Ministry of Investment (n.d.b) shares the terms and conditions foreign investors must
consider and adhere to when investing in Saudi Arabia. Some of the investment areas that
the article focuses on are public transportation activities, 100% foreign commercial license,
r serving agents and providing workers service, and colleges and universities. When
applying for a license to provide public transport, investors should not have penalties issued
inside or outside Saudi Arabia regarding traffic safety for the last ten years; they must be
approved by the public transportation authorities of Saudi Arabia, and technical
specification and production method must align with Gulf, Saudi or international standards
and must submit annual security levels improvement plans. Regarding investors interested
in obtaining a 100% foreign commercial license, the company should apply for the Saudi
employment percentages and develop a program to put Saudi employees in leadership