The Saudi franchise and government procurement law is expected to be issued in four weeks, Al Arabiya TV has reported, citing Majid Al Qasabi, minister of commerce and investment.
In March, Saudi Shura Council approved the franchise and government procurement laws. The new franchise law, which comprises 26 articles, aims to govern the relationship between the franchisor and franchisee in light of transparency.
On the other hand, the procurement law, which has 97 articles, also regulates the procedures related to business and procurement.
It aims to prevent abuse of power and personal interests so as to protect public funds as well as to achieve best value for public money.
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