Tawayan, the Director General of SAGIA Information and Communication Department also explained that specifying a certain number of licenses that are being issued annually is not consistent with the law of the foreign investment in the Kingdom of Saudi Arabia and its regulations, which is considered as the most open and advanced investment one of its kind at the regional and international levels to attract all kinds of large, medium or small-sized investments of innovative nature, and support the integration of investments in the promising economic sectors, noting that the articles of the law clearly stipulate that the doors of foreign investment are open in all sectors and activities other than those excluded from foreign investment in accordance with the decisions of the Supreme Economic Council. Yet, the excluded activities don't exceed 13 activities related to security, sovereign and religious aspects, he explained. He also stressed that the foreign investment regulation allows the foreign investor to obtain more than one license in various activities and the ownership of 100% for the foreign investor or in partnership with a local investor. --More 20:44 LOCAL TIME 17:44 GMT تغريد
