The promotion and stimulation of investment opportunities in KSA is centralized through the Saudi Arabian general investment authority (“SAGIA”). SAGIA is responsible for licensing investment with collaboration of ministry of commerce and investment in KSA and seeks to create developed environment for investment”.
Proscribed List of foreign investment :
There are a number of activities which are excluded from foreign investment and cannot be the subject of a SAGIA license (“the Negative List”). For specific classification some activities are cross-referenced to product codes derived from the United nations inventory of classifications (”CPC”).