SAGIA aims to get Kingdom in top 20 for ease of doing business by 2020

Saudi Arabia is introducing measures to improve the speed and ease of doing business in the Kingdom. (Getty)
Updated 03 May 2018
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SAGIA aims to get Kingdom in top 20 for ease of doing business by 2020

  • Kingdom has introduced new laws on arbitration and insolvency and plans to speed up the business visa process
  • “We are a model for the whole world in how to improve the business environment," says SAGIA chief

RIYADH: Saudi Arabia wants to be in the top 20 countries measured by “ease of doing business” by 2020, the head of the Kingdom’s investment promotion agency, the Saudi Arabian General Investment Authority (SAGIA) said on Thursday.

Ibrahim Al-Omar, SAGIA governor, said that there were a lot of reforms that would have to be accomplished if it were to achieve top 20 status as measured annually by the World Bank, which put the Kingdom at number 92 in the world out of 190 countries.

But he said that there was a “great interest” among international investors to get more involved in business in the Kingdom and reforms were being pushed through fast.

“We are a model for the whole world in how to improve the business environment”, he said, highlighting the new arbitration and insolvency laws, the efficiency of the Kingdom’s ports, and the ease and speed of getting a business visa.

“There has been some negative feedback on the insolvency laws, but really they are a protection tool for any business. It will give you the opportunity to reschedule your liabilities,” Al-Omar said.

He met around 400 companies in the UK and US when he accompanied the royal tour of those countries, and told them of the Kingdom’s investment potential.

But he said there were risks perceived by international investors because of the limited clarity and awareness of reforms in the Kingdom. “It is hard to communicate when we’re going so fast,” he said.

Al-Omar, who described SAGIA as a provider of “VIP concierge services” for potential investors, also said that there was only limited market information about the investment opportunities available, and that SAGIA was setting up an online portal listing all potential deals on offer.


Air France, Emirates maintain Cairo flights after British Air suspension

Updated 21 July 2019
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Air France, Emirates maintain Cairo flights after British Air suspension

  • British Airways, a unit of IAG, said it was suspending flights to Cairo for seven days “as a precaution”
  • Germany’s Lufthansa later said it had canceled its flights to Cairo from Munich and Frankfurt and would resume its connection

PARIS: Air France, Emirates and Etihad Airways are continuing to operate flights to Cairo after British Airways and Lufthansa suspended services to Egypt’s capital.
International Airlines Group’s British Airways suspended flights on Saturday for seven days “as a security precaution” as it reviews security at Cairo airport.
Germany’s Lufthansa later said it canceled services from Munich and Frankfurt to Cairo and would resume flights on Sunday.
“In liaison with the French authorities and the local authorities in Egypt, Air France has decided to maintain its service to Cairo,” a spokesman said in a statement sent to Reuters.
An Emirates spokeswoman said its flights were operating to schedule.
“We are closely assessing the situation and are in contact with the relevant aviation authorities with regards to our flight operations to Egypt,” the spokeswoman said.
The website for Abu Dhabi’s Etihad showed its services were also operating.
“Etihad Airways is monitoring the security situation in Cairo,” an airline spokesman said.