Riyadh – Mubasher: The Saudi Arabian General Investment Authority (SAGIA) is currently discussing with the ministries of labour and commerce means to remove obstacles hindering foreign investments, mainly giving up a condition stating that a Saudi local partner should be involved for a foreign investment to be granted access to the Kingdom’s direct market.

Such a condition resulted in a reduction on the scale of foreign investment in the Saudi market.

Sources told Asharq Al-Awsat that the triple sectorial-committee, including SAGIA, Ministry of Commerce and Industry, and Ministry of Labor, is seriously reviewing factors that hinder investment in the local market. The review will shift the current situation to a new standpoint, which eliminates all obstacles slowing down global investment. The obstacles being put to question are in a majority relevant to red-tape procedures and conditions on foreign investment.