Saudi Arabia to allow full foreign ownership
The foreign company would need to have existed for at least 10 years to qualify
Abu Dhabi - Emirates Voice
Saudi Arabia will allow foreign companies to own engineering services companies in full, without requiring them to partner with a Saudi-owned firm, the cabinet announced on Monday night.
The foreign company would need to have existed for at least 10 years to qualify, the cabinet statement said. It would also need to be multinational, with operations in at least four countries.
The kingdom's investment authority, SAGIA, announced last year that it would accept applications for wholly owned engineering consultancies but did not set out procedures for implementation.
Previously, foreign engineering companies were regulated by the commerce ministry and required to partner with a Saudi engineering firm.
Saudi Arabia is liberalising its business regulations to attract more investors and diversify its economy away from oil.
SAGIA announced eased ownership restrictions in the wholesale and retail sectors in 2015, and awarded its first full foreign ownership investment license to Dow Chemical Co last year.
Source: Khaleej Times
GMT 16:06 2018 Thursday ,30 August
Abu Dhabi Police receive over 51,000 calls during Eid Al AdhaGMT 15:59 2018 Thursday ,30 August
46 services go paperless in Abu DhabiGMT 14:25 2018 Sunday ,21 January
Dh1m compensation for worker injured in UAE accidentGMT 09:25 2018 Tuesday ,16 January
UAE accuses Qatar of 'intercepting' 2 passenger planesGMT 20:21 2018 Monday ,08 January
UAE servicemen receive medals for bravery at Al Ain barza
With Job Cuts, China Deal
France's Carrefour revamps operations
Paris - Emiratesvoice
France's Carrefour group said Tuesday it is overhauling its business in a transformation plan involving thousands of job cuts, a product revamp and new partnerships in China. Carrefour, which was the world'sTo partake in Beiteddine Festivals
Singer Bruni arrives in Beirut Sunday evening
Beirut - NNA
French renowned singer and supermodel, Carla Bruni, is expected to arrive this evening at Rafic Hariri International Airport in Beirut, accompanied by her husband, former French President Nicolas Sarkozy. BruniIn France
Microsoft to open 4 data centres
Paris - Emiratesvoice
Microsoft is to open 4 data storage centers in France to meet strong customer demand for cloud computing, the head of the software giant's French operations told the Agence France-Presse onIn Olympic Spotlight
'Friendly and kind' N. Korean skaters
Taipei - Emiratesvoice
North Korea's figure skaters Ryom Tai-Ok and Kim Ju-Sik are "friendly and kind and a little bit shy", South Korea's Kim Kyueun said Tuesday ahead of their hugely anticipated Olympic appearance. The skater is competing with her partner Alex Kam in theFor $11.6 Bn
Sanofi buys US haemophilia treatment
Paris - Emiratesvoice
French pharmaceutical firm Sanofi said Monday it had reached an agreement to purchase US biotech company Bioverativ, which specialises in treatments for haemophilia and rare blood disorders, for $11.6 billion. Sanofi's chief executive Olivier Brandicourt said the acquisition "enhances its presence in specialtyParis show pays homage
to 'eternal style' of late Alaia
Paris - Emiratesvoice
Two months after legendary designer Azzedine Alaia's sudden death plunged the fashion world into mourning, an exhibition in homage to the "King of Cling" opens Monday in his studios in Paris. The Tunisian-born designer, renowned for the way his clothes hugged the body, died suddenly in November aged 82, reportedly of heart failure after falling down the stairs at his home. The diminutive maverick, who ignored fashion week convention by showing when and where he wanted, in July produced his first couture collection in six years to rapturous reviews. Now some of his most iconic dresses are going on display in the glass-roofed gallery next to his studio and home in the Marais district where he used to show his creations. It includes the dress worn by supermodel Naomi Campbell, his longtime friend and muse, when she led
GMT 10:31 2014 Tuesday ,23 December
Mirages of failure: Lebanon cannot wait
GMT 05:04 2024 Tuesday ,06 February
Skincare PR Performance Full Year 2017
GMT 05:06 2024 Tuesday ,06 February
New hunt for flight MH370 gets under way
GMT 16:17 2018 Thursday ,30 August
Five Saudi women pilots granted GACA licencesGMT 16:41 2012 Wednesday ,16 May
South Sudanese refugees returning home
GMT 13:32 2017 Tuesday ,26 December
Commander-in-chief receives Canadian military attaché
GMT 23:58 2016 Monday ,19 December
Japan's Fiscal Year 2017 Budget to Reach 97.45 Trillion Yen
GMT 16:00 2016 Friday ,29 April
Spain's economy grows by 0.8 percent in Q1
GMT 12:39 2014 Sunday ,25 May
Vichy Laboratoires adds to Capital Soleil suncare collection
GMT 05:45 2018 Sunday ,14 January
'Hundreds' of lawsuits filed over Lactalis salmonella
GMT 07:27 2017 Friday ,29 December
Cook's record double ends Australia's Ashes whitewash hopes
GMT 06:32 2017 Thursday ,23 February
Blind sheikh buried in Egypt
GMT 10:30 2017 Saturday ,14 January
May scrap Russia sanctions
GMT 21:41 2017 Sunday ,05 February
Obesity Care and Cure Congress highlights
GMT 16:41 2016 Monday ,29 August
Israel court delays hearing for UN worker
GMT 10:54 2017 Monday ,12 June
Child labour represents significant challenge in areas of conflicts
GMT 22:28 2016 Friday ,08 April
Australia plans to protect ‘long-haul’ birds
GMT 23:23 2017 Wednesday ,11 January
Explosion Rocks Jalalabad City in East of Afghanistan
GMT 22:58 2017 Monday ,05 June
Economic expert
GMT 18:15 2016 Saturday ,10 September
5.7-magnitude quake hits 23km ENE of Nsunga, TanzaniaGMT 11:42 2011 Sunday ,16 October
iPhone 4S big hit in Hong Kong\'s grey market
GMT 05:35 2017 Monday ,12 June
PSA Dubai World Series Finals: Maiden title for El Shorbagy, Massaro defends crown
GMT 00:30 2017 Saturday ,14 January
Snorkelling with whale sharks in DjiboutiGMT 08:37 2011 Sunday ,12 June
Saeed Saleh suffers strokeGMT 19:40 2011 Wednesday ,27 July
Yousra: I long to be a mother but won’t adopt
GMT 11:00 2017 Tuesday ,28 November
Myanmar govt aims to protect rights, foster tolerance 'for all'
GMT 15:38 2016 Friday ,25 March
Champion boxer Broner facing assault, robbery charges, report
GMT 07:11 2017 Thursday ,02 February
Hakim Ziyech to Play for Morocco in 2018 World Cup Qualifiers
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Send your comments
Your comment as a visitor