H.E. Minister of Commerce and Industry, H. E. the Governor of General Investment Authority have welcomed the Royal Directives to consider all trade and investment regulations, in order to facilitate the business of international companies and provide the necessary incentives for them, including the direct business in the Saudi market, for those who wish to invest in the Kingdom, provided that their offers and bids should include the manufacturing plans with specific time limits, as well as technology transfer, employment and training for Saudi citizens.
Their Excellency have emphasized the Kingdom`s desire to open the way for foreign companies to invest in the wholesale and retail sector, with ownership proportions exceeding the ratio committed by the Kingdom in the World Trade Organization (WTO), it may reach a percentage of ownership of (100%). This is in accordance with the conditions and regulations to be developed by the concerned authorities in the Kingdom. The Kingdom, represented by the General Authority for Investment, would welcome the offers and bids from companies wishing to invest in K.S.A., their offers must contain their future manufacturing plans, within specific time limits, as well as technology transfer, employment and training of citizens.
Their Excellency have pointed out that the aim of the Royal Decree, issued in this regard, is the following:
- Attracting directly the international manufacturing companies.
- The international companies may sell their products directly to the consumer.
- Taking advantage of a unique after sale service.
- Increasing competitiveness.
- Providing good opportunities for Saudi youth.
- Training and developing the abilities of the Saudi youth in training centers belonging to the investing companies.
- Encouraging the foreign companies to manufacture their products in the Kingdom.
- The Kingdom would be an international center for distributing, selling and re-exporting products.
In conclusion, Ministry of Commerce & Industry and the General Authority for Investment would like to invite the major international manufacturing companies to submit their offers and bids indicating their plans and contributions to be provided, by allowing them to sell their products directly in the Kingdom.