Reassessing Saudi Arabia’s foreign investment laws: from protectionism to liberalization

Abstract

PurposeThis paper aims to examine the extent to which these reforms address the limitations of Saudi Arabia’s previous investment framework. Long viewed as a hostile environment in which to do business, the Saudi Government has enacted a broad sweep of measures aimed at restoring investor confidence in central aspects of the country’s evolving private law framework.Design/methodology/approachThis paper offers a timely assessment of the raft of foreign investment reforms, both legislative and regulatory, that have been introduced in Saudi Arabia over the last decade.FindingsThe paper will proceed by outlining the perceived failings of the old investment regime before going on to reforms.Originality/valueIt will consider the remaining obstacles to the flow of foreign investment in Saudi Arabia in the context of the dual forces that have historically defined the Kingdom’s ambivalent investment law regime.