New Corporate Law to Stimulate Saudi Commercial, Investment System

The new corporate law was prepared in accordance with international best practices to address aspects of the challenges facing establishments in Saudi Arabia (Asharq Al-Awsat)
The new corporate law was prepared in accordance with international best practices to address aspects of the challenges facing establishments in Saudi Arabia (Asharq Al-Awsat)
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New Corporate Law to Stimulate Saudi Commercial, Investment System

The new corporate law was prepared in accordance with international best practices to address aspects of the challenges facing establishments in Saudi Arabia (Asharq Al-Awsat)
The new corporate law was prepared in accordance with international best practices to address aspects of the challenges facing establishments in Saudi Arabia (Asharq Al-Awsat)

Starting Thursday, companies operating in Saudi Arabia entered a new phase after the Kingdom enforcing a new corporate law within its framework of completing the modernization and reform of commercial and investment legislation and systems.

The new legislation regulates investment and trade in the Kingdom and is based on clear and transparent foundations, specialists confirmed to Asharq Al-Awsat that.

Saudi authorities’ orientation towards developing and promoting the private sector, as well as attracting foreign investments, has driven the country’s creation of a fertile business environment, the specialists explained.

The new corporate law eliminates the phenomenon of commercial cover-up from local markets and is characterized by flexibility that supports family, small and medium-sized companies, as well as entrepreneurs.

As one of the achievements of Vision 2030, the new corporate law will act as a catalyst for the commercial system and its development.

It will fulfill the aspirations of family businesses and entrepreneurs, affirmed Commerce Minister Majid Al Qasabi.

According to statements from the Ministry of Commerce and the Capital Market Authority (CMA), the new law will assist businesses in expanding, overcoming obstacles, and staying updated with the various economic advances the Kingdom encounters.

As part of their initiatives to complete the modernization and reform of the Kingdom's commercial and investment laws, they also emphasized the role of the law in regulating provisions linked to companies in all their forms within a single legislative document.

The continuation of their cooperative efforts to establish unity and harmony in its execution, in a way that contributes to achieving its aims, the Ministry of Commerce and CMA had previously detailed the procedure for carrying out the new law's implementation for organizations.

In addition to its successful contributions to the sustainability of economic entities and enticing local investments, the corporate law is expected to contribute to strengthening the regulatory environment for businesses, facilitating procedures and regulatory requirements to stimulate the business environment and support investment, achieving balance among stakeholders, providing an effective and fair framework for corporate governance, and dedicating institutional work.



King Abdulaziz International Airport Sees Inauguration of 70 E-Gates

The new system significantly boosts the airport’s capacity, enabling it to serve up to 175,000 travelers per day - SPA
The new system significantly boosts the airport’s capacity, enabling it to serve up to 175,000 travelers per day - SPA
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King Abdulaziz International Airport Sees Inauguration of 70 E-Gates

The new system significantly boosts the airport’s capacity, enabling it to serve up to 175,000 travelers per day - SPA
The new system significantly boosts the airport’s capacity, enabling it to serve up to 175,000 travelers per day - SPA

Deputy Governor of Makkah Region, Prince Saud bin Mishaal bin Abdulaziz, inaugurated on Tuesday the new e-gates system at King Abdulaziz International Airport in Jeddah.

The system includes 70 e-gates designed to enhance travel efficiency by automating check-in and departure procedures, providing a smoother and more convenient airport experience.
According to SPA, the initiative leverages modern technologies and artificial intelligence to facilitate faster and more secure passenger processing.

The e-gates are distributed across Terminal No. 1 and the Executive Office facilities, each capable of handling up to 2,500 passengers. This system significantly boosts the airport’s capacity, enabling it to serve up to 175,000 travelers per day.
King Abdulaziz International Airport is the third in Saudi Arabia to implement the e-gate system, following its successful deployment at King Khalid International Airport in Riyadh and Neom Bay Airport.

The expansion of this advanced system aligns with the Kingdom’s commitment to enhancing airport efficiency, passenger convenience, and technological innovation in line with Vision 2030.