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Saudi Arabia Increases Efficiency of Legal Environment for Business Sector by Applying Int’l Practices

Photo of the workshop recently held by the Saudi Bar Association and the Riyadh Region Bar Committee (Asharq Al-Awsat)
Photo of the workshop recently held by the Saudi Bar Association and the Riyadh Region Bar Committee (Asharq Al-Awsat)
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Saudi Arabia Increases Efficiency of Legal Environment for Business Sector by Applying Int’l Practices

Photo of the workshop recently held by the Saudi Bar Association and the Riyadh Region Bar Committee (Asharq Al-Awsat)
Photo of the workshop recently held by the Saudi Bar Association and the Riyadh Region Bar Committee (Asharq Al-Awsat)

Saudi Arabia is developing a diverse business environment by expanding the application of legal concepts in a way that aligns with the goals of Vision 2030.
The new laws adopted by the Kingdom kept pace with the requirements of global and local investors, by enhancing the speed, efficiency and transparency of the legal and economic system, based on the latest global practices in the business sector.
Exceptional standards
Legal Expert Mohammed Al-Aqeel, managing partner of the Mohamed Al-Aqeel & Partners Law Firm, stressed the importance for experts in the legal and economic fields to observe the rapid evolution taking place in Saudi Arabia to achieve Vision 2030, through exceptional standards and the successful integration of international companies in the local market.
“From this standpoint, it is important to shed light on the legislation that specifically affects the Saudi market and legal practices, which are common legal trends that cannot be neglected today even though their definition was different in the recent past,” he stated.
Global practices
The Saudi expert added that global practices were a common legal language that is founded on legal norms.
The managing partner of Mohammed Al-Aqeel & Partners Law Firm pointed out that the system of the Red Flag & Yellow Flag, is the model that is used in the Saudi market, even among local companies, because it achieves the standard of transparency and disclaimer of responsibility in deals and contracts.
Al-Aqeel was speaking during a lecture held by the Saudi Bar Association and the Riyadh Region Bar Committee entitled, “Due-Learning Examination in Mergers and Acquisitions Contracts,” which presented the concept of this type of application to a number of legal practitioners.
Al-Aqeel touched on the entry of international companies through their brands into the Saudi market, through a commercial franchise agreement for restaurants, or a licensing agreement for global electronic applications for delivery companies, based on the rights to use a registered intellectual property or registered trademark.
“The image has recently been seen changing in the local market with the possibility of using these agreements between Saudi companies to participate in expansion and the acceptance of the idea of joint contribution by multiple parties for one brand,” he said.

 

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Riyadh Seeks to Ease Traffic Congestion by Launching Metro Project

The Riyadh Metro project covers six main lines with a total length of 176 kilometers and 84 stations. (King Abdulaziz Project for Public Transport)
The Riyadh Metro project covers six main lines with a total length of 176 kilometers and 84 stations. (King Abdulaziz Project for Public Transport)
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Riyadh Seeks to Ease Traffic Congestion by Launching Metro Project

The Riyadh Metro project covers six main lines with a total length of 176 kilometers and 84 stations. (King Abdulaziz Project for Public Transport)
The Riyadh Metro project covers six main lines with a total length of 176 kilometers and 84 stations. (King Abdulaziz Project for Public Transport)

Saudi Arabia is preparing to launch the “Riyadh Metro” project, one of the largest public transportation projects in the region, which promises to improve the quality of life for residents by reducing traffic congestion and air pollution.

Minister of Transport and Logistics Eng. Saleh Al-Jasser recently announced that the landmark Riyadh Metro is in its final stages and nearing completion.

In 2013, the government awarded contracts worth $22.5 billion to three international consortia led by some of the world’s largest railway manufacturers to design and build Riyadh’s first metro network. The main network for the Riyadh Bus system was completed in Sept. 2023, serving as a crucial feeder to the metro system through 54 routes and 2,145 stations and stops spread across the capital.

The Riyadh Metro consists of a network of six main lines spanning the city, aiming to connect vital areas and facilitate daily commutes for the city’s 7.5 million residents. As the capital aims to double its population by 2030, the government recently allocated SAR 6 billion ($1.6 billion) to improve the city’s infrastructure, a figure four times higher than previous contracts, according to the Riyadh Municipality.

The Riyadh Metro project covers six main lines with a total length of 176 kilometers and 84 stations. The metro network is also connected to King Khalid International Airport, the King Abdullah Financial District, major universities, downtown Riyadh, and the public transport center, according to the Royal Commission for Riyadh City.

The six routes of the Riyadh Metro network are:

1. Line 1 (Blue Line): Al-Olaya - Batha - Al-Ha’ir axis, 38 km long.

2. Line 2 (Red Line): King Abdullah Road, 25.3 km long.

3. Line 3 (Orange Line): Madinah Road - Prince Saad bin Abdulrahman Al-Awal axis, 40.7 km long.

4. Line 4 (Yellow Line): King Khalid International Airport axis, 29.6 km long.

5. Line 5 (Green Line): King Abdulaziz Road axis, 12.9 km long.

6. Line 6 (Purple Line): Abdulrahman bin Awf Road - Sheikh Hassan bin Hussein bin Ali Road axis, 30 km long.

Ticket prices

The cost of a ticket for the Riyadh Bus, the main feeder for the Riyadh Metro, is 4 riyals ($1.07) and is valid for two hours, starting from the first check-in on a bus or by activating the ticket through the app.

The same ticket can be used to transfer to another bus within this time. Children up to six years old can ride for free, while metro ticket prices have not yet been announced.

Infrastructure

The public transport project includes 21 public parking areas, each accommodating between 200 and 600 cars, to facilitate the use of the metro network. These parking spots are distributed to make transfers easier.

In September, the Riyadh Municipality signed five contracts worth SAR 6 billion to improve road quality, representing four times the value of previous contracts. Additionally, SAR 70 billion ($18.6 billion) has been allocated to improve the road network in Riyadh, as previously announced by Minister Al-Jasser during the Smart Cities Conference in May.

Eco-friendly

Environmentally, Riyadh’s buses use low-sulfur fuel, making them among the most eco-friendly vehicles, contributing significantly to reducing carbon emissions and improving air quality, according to the Royal Commission for Riyadh City.

The metro network will also play an active role in reducing harmful greenhouse gases and mitigating rising temperatures in the city by providing sustainable transportation options. This effort aligns with broader goals to improve the quality of life for residents and visitors and create a healthy environment for all.