By: Mohamed Idris

Riyadh-Mubasher: The GCC General Secretariat plans to draft a unified law that regulates foreign investment in the region, according to Abdullah Al Shibli, Assistant Secretary-General for Economic Affairs at the GCC General Secretariat.

For the GCC, the goal of foreign investment is not to bring capital flows, but to introduce new technologies into different areas to keep pace with global development, he added in a statement to Mubasher.

The GCC General Secretariat held a workshop in Riyadh that is concerned with the consolidated legislation for the investment climate in the gulf countries.

The workshop aimed to hear the views of the private sector before starting the preparation for the new law, Al Shibli noted.