Saudi Cabinet Approves FDI Framework and Principles

  • Saudi Arabia
  • 6 November 2024
1

The Council of Ministers of Saudi Arabia, meeting chaired by Crown Prince Mohammed bin Salman, approved in principle the national general framework and guidelines for foreign direct investment.

The Cabinet also approved the Kingdom's accession to the "Comprehensive Achievement Initiative in the Cement and Concrete Industry", which was launched on the sidelines of the Conference of the Parties to the United Nations Framework Convention on Climate Change.

An agreement was approved between the Government of the Kingdom of Saudi Arabia and the Government of the State of Qatar for the avoidance of double taxation with respect to taxes on income and for the prevention of tax evasion and avoidance.

The Council approved a framework agreement between the Government of the Kingdom of Saudi Arabia and the Government of the United States of America for cooperation in the field of aeronautics and the exploration and use of airspace and outer space for peaceful purposes.

Source (Al-Arabiya.net Website, Edited)

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