Saudi Arabia unveils seven principles to raise investment

Ibrahim Al-Omar, governor of the Saudi Arabian General Investment Authority. (SPA)
Updated 23 January 2019

Saudi Arabia unveils seven principles to raise investment

  • The rapid pace of economic transformation in the coming years is opening exciting investment opportunities

JEDDAH: Saudi Arabia has unveiled seven investment principles, issued by royal decree and based on international best practice, that will support the development of a competitive investment environment in the Kingdom.
“The rapid pace of economic transformation in the coming years is opening exciting investment opportunities, both in Saudi — a G20 economy opening up to international businesses — and in the broader Middle East,” said Ibrahim Al-Omar, governor of the Saudi Arabian General Investment Authority (SAGIA).
The investment principles are: Ensure equality between Saudi and foreign investors; ensure protection of investments; enable sustainability of investment; provide access to equal investment incentives; implement social and environmental standards and ensure investor compliance with Saudi health, safety and environmental regulations; facilitate access procedures for foreign workers and their families; and ensure a solid transfer of knowledge, technology and enhancement of local human capital.


First pilgrims leave under Eyab initiative

Updated 18 August 2019

First pilgrims leave under Eyab initiative

  • Al-Amoudi toured the exhibition dedicated to welcome Eyab’s beneficiaries

Saudi Minister of Transport and Chairman of the General Authority of Civil Aviation (GACA), Dr. Nabeel Al-Amoudi, oversaw the departure of the first 

group of pilgrims under the Eyab initiative on Saturday together with GACA President Abdulhadi bin Ahmed Al-Mansouri.

Eyab seeks to improve services provided to pilgrims, with the authority aiming to enrich pilgrims’ experience at the Kingdom’s airports. It is expected to benefit 30,000 pilgrims during this year’s Hajj season.

Al-Amoudi toured the exhibition dedicated to welcome Eyab’s beneficiaries, inspected the services available and received a briefing from the initiative’s officials.

GACA started an experimental implementation of Eyab this year, aimed at pilgrims returning to Indonesia, India and Malaysia through Jeddah’s King Abdul Aziz International Airport and Madinah’s Prince Mohammed bin Abdul Aziz Airport.