Saudi Arabia to strengthen its legislative & business environment

By Shilpa Annie Joseph, Desk Reporter
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Saudi Arabia
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Saudi Arabia’s Crown Prince, Mohammed bin Salman Al Saud has announced to develop the legislative environment to pave the way for an even more competitive economy aimed at modernizing the Kingdom.

These legal reforms reflect the Kingdom’s desire to enshrine the ideals of justice, transparency, and human rights protection while also achieving comprehensive and long-term growth in several sectors.

The new specialized legislative reforms, such as the Civil Transactions Law, Personal Status Law, Penal Code for Discretionary Sanctions, and the Law of Evidence, confirm that the country is a civil state that implements preventive justice and legal protection, according to Adv. Ahmed Al-Muhaimid, a lawyer and legal advisor.

“The new legislative reforms limit the emergence of disputes and conflicts before they appear by giving rights to those who deserve it in the first place without the need to file lawsuits,” Adv. Al-Muhaimid said.

He further noted that the legislative reforms increase the reliability in protection, rights, enforcement of judgments and legal documents, through enforcement courts and in compliance with the enforcement law, as well as enhancing pre- and subsequent monitoring of judicial procedures.

“This contributes to reducing litigation procedures, saving time and effort, and positively reflecting on attracting investments to the Kingdom’s economy. Especially as the legislative environment in Saudi Arabia supports foreign investment through specialized laws, most notably the foreign investment law and the relevant commercial regulations,” Adv. Al-Muhaimid added.

In developing the Kingdom’s legislation environment, Saudi Arabia has applied the public consultation methodology through electronic tools and platforms that align with Saudi Vision 2030’s legislative reforms to enhance the business environment, promote public policymaking, and improve the Kingdom’s competitiveness.

Related: Saudi Arabia extends industrial license period to five years

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