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Saudi Measures Facilitate Listing of Foreign Companies

A view of Riyadh, Saudi Arabia. (AP)
A view of Riyadh, Saudi Arabia. (AP)
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Saudi Measures Facilitate Listing of Foreign Companies

A view of Riyadh, Saudi Arabia. (AP)
A view of Riyadh, Saudi Arabia. (AP)

The Capital Markets Authority (CMA) of Saudi Arabia has introduced measures to facilitate the entry of foreign issuers to the Saudi stock market and encourage investment in NOMU, the Kingdom’s secondary market.

Saudi Arabia has introduced a raft of reforms to attract overseas share buyers and issuers as part of efforts to lure foreign capital and diversify the economy. The Saudi main stock exchange, Tadawul, opened to foreign investors in 2015.

The CMA Board of Directors adopted the rules of offering securities and amended continuous commitments in its endeavors to develop the financial market and raise its attractiveness to investors of all categories.

Amendments to the Securities Offering Rules approved by the CMA board allow foreign companies to list their shares in the local market – a move aimed at deepening the financial market, enhancing its role in the formation of capital, raising its attractiveness and providing for more investment opportunities for the general public.

In this regard, all categories of resident and non-resident foreign investors will be allowed to invest directly in the shares of the foreign issuer listed in the main market.

The amendments also aimed at increasing the attractiveness of the parallel market (NOMU) - a market with lighter listing rules for smaller firms - and attracting new categories of investors through introducing modifications to the mechanism of application for listing in the financial market, the membership of the boards of directors of listed companies, the mechanism of the announcement of financial statements and the appointment of members of the Audit Committee.

The move will “create greater opportunities for diversification of investment for investors,” Mohammed bin Abdullah Elkuwaiz, Chairman of the Capital Market Authority, said in a statement.

He pointed out that the most prominent amendments are centered on encouraging the entry of foreign buyers and issuers to the main market and increasing the attractiveness of the domestic market and strengthen its role in the formation of capital.

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FAO Aims for Key Outcomes at COP16 in Saudi Arabia

Preparations in the Saudi capital ahead of hosting the COP16 conference on combating desertification (from the “COP16” page on the X platform)
Preparations in the Saudi capital ahead of hosting the COP16 conference on combating desertification (from the “COP16” page on the X platform)
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FAO Aims for Key Outcomes at COP16 in Saudi Arabia

Preparations in the Saudi capital ahead of hosting the COP16 conference on combating desertification (from the “COP16” page on the X platform)
Preparations in the Saudi capital ahead of hosting the COP16 conference on combating desertification (from the “COP16” page on the X platform)

Dr. Abdul Hakim Elwaer, Assistant Director-General of the Food and Agriculture Organization (FAO), stated that the organization will take an active role at COP16, the UN conference on combating desertification, scheduled to take place in Saudi Arabia in early December.

In remarks to Asharq Al-Awsat, he expressed confidence that the conference—the first of its kind in the Middle East—would produce significant outcomes.

Elwaer’s comments came during a roundtable organized by FAO’s regional office in Cairo, attended by a select group of media representatives. The session focused on FAO’s participation in the upcoming conference and the importance of the Rio Trio —the integrated framework of the three major UN conventions addressing climate change, biodiversity conservation, and desertification.

Fida Haddad, FAO’s Program Officer for Land Rehabilitation and Climate Change, highlighted the interconnectedness of the three conventions and noted that COP16 would place a strong emphasis on land and water rehabilitation and their sustainable management.

Haddad pointed out that approximately 90% of the Middle East is affected by arid conditions. Despite this, local communities and Arab governments have made notable progress in addressing desertification and drought. She also announced that, for the first time, FAO has successfully placed food systems on the COP16 agenda, enabling discussions on how land rehabilitation can enhance food supply chains and systems.

Elwaer underscored FAO’s central role in achieving the second Sustainable Development Goal (SDG): eradicating hunger. He emphasized that FAO actively engages in the UN conventions on climate change, biodiversity, and desertification, which collectively contribute to this mission.

FAO’s focus, according to Elwaer, is on transforming food and agricultural systems to become more inclusive, efficient, and sustainable, aiming for better production, nutrition, and livelihoods. He highlighted the organization’s success in integrating these priorities into the agendas of the three conventions and collaborating with host countries on joint initiatives.

He further noted that Saudi Arabia’s hosting of COP16 is particularly significant for the region, which faces pressing challenges such as water scarcity, desertification, and food insecurity. The conference presents an opportunity for Middle Eastern nations to highlight these issues, explore solutions, and ensure their inclusion in global environmental discussions, not only at this event but in future COP sessions, he underlined.

Elwaer emphasized the growing global attention on desertification, as it is now impacting regions previously unaffected, such as southern Europe and parts of Latin America. These areas are witnessing alarming declines in arable land and forests, prompting them to seek lessons from the Arab world, which has developed resilience strategies to combat desertification over centuries.

FAO will have a strong presence at COP16, with two dedicated pavilions—one in the Blue Zone for official delegations and another in the Green Zone to engage civil society and conference participants, he said.

He added that in collaboration with Saudi Arabia and the UN, FAO will lead coordination on Food Day and Governance Day, scheduled for December 5 and 6, respectively. The organization will also participate in other specialized sessions throughout the conference.