Foreigners can now own 100% of wholesale, retail businesses


Foreign investors can now own 100 percent of retail and wholesale businesses in Saudi Arabia. An approval to this effect was granted by the Council of Ministers here late Monday night.

Foreign investors can now own 100 percent of retail and wholesale businesses in Saudi Arabia. An approval to this effect was granted by the Council of Ministers here late Monday night.

The decision is in line with Vision 2030 to ease restrictions on ownership and foreign investment in the retail sector to attract regional and international brands, contributing to the creation of job opportunities for citizens in this sector, said the Cabinet statement