The Kingdom of Saudi Arabia has allowed foreigners to manage Saudi-owned companies.
According to Arabiya Net, the Saudi Ministry of Justice suspended the work of the second paragraph of the ministerial decision issued in 1426 AH, which states that if the company is Saudi, it is not permissible for a foreigner. Its administration or granting him any powers in line with the orders prohibiting the Saudi delegation to a foreigner.
This came after the Ministry of Justice received a telegram from the Minister of Trade, Chairman of the Board of Directors of the National Competitiveness Center, regarding what it was observed that non-Saudis were not allowed to be appointed as managers in Saudi-owned companies.
The Minister of Justice, Dr. Walid Al-Samaani, said in a circular, that the working team formed to study what I refer to has concluded that there is no legal impediment in this regard, according to Okaz newspaper on Thursday. .
> Recent years have witnessed the Kingdom issuing several legislations to facilitate and attract foreign investments, structuring the labor market to attract talent, and localizing a large number of jobs.
The Ministry of Human Resources and Social Development in Saudi Arabia is implementing a new strategy for the labor market, which was developed according to extensive preliminary studies and research and field surveys. Based on evidence to raise market efficiency, in addition to detailing the strategy to extract initiatives and the implementation plan, after conducting international benchmarks, analyzing many reports, and engaging stakeholders.
