Saudi Arabia allows foreign investors to have 100 percent ownership of their projects, except in four sectors where they require a Saudi partner, said Ayedh Al-Otaibi, senior official at Saudi Arabian General Investment Authority (SAGIA).
These four sectors include professional services, wholesale and retail, financial services insurance and banking, and telecom.
He noted that foreign investments are not allowed in certain sovereign sectors, as well as religious activities, such as Hajj and Umrah pilgrimages, Al-Otaibi was quoted as saying by the state’s news agency.
"Saudi is one of the few countries in the Gulf region that allows 100 percent foreign ownership of investment projects," he stressed. In addition, any restricted activities are also periodically reviewed with the aim of attracting more investments.
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