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Saudi Fund for Development Inaugurates Al-Fateh Street Development Project in Bahrain

The inauguration was attended by several Bahraini ministers and senior Saudi and Bahraini officials. (SPA)
The inauguration was attended by several Bahraini ministers and senior Saudi and Bahraini officials. (SPA)
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Saudi Fund for Development Inaugurates Al-Fateh Street Development Project in Bahrain

The inauguration was attended by several Bahraini ministers and senior Saudi and Bahraini officials. (SPA)
The inauguration was attended by several Bahraini ministers and senior Saudi and Bahraini officials. (SPA)

Saudi Arabia and Bahrain inaugurated on Thursday the “Al-Fateh Street” development project in Bahrain.

The inauguration was held in the presence of Bahrain’s Crown Prince and Prime Minister Prince Salman bin Hamad Al Khalifa, Bahrain’s Deputy Prime Minister Sheikh Khalid bin Abdullah Al Khalifa, and Chief Executive Officer of the Saudi Fund for Development (SFD). Sultan Al-Marshad.

The SFD contributed in financing the project through a grant provided by Saudi Arabia to Bahrain.

The inauguration was attended by several Bahraini ministers and senior Saudi and Bahraini officials.

The project will play a key role in reducing traffic along the Al-Fateh Street network. Additionally, it will contribute towards promoting greater investment opportunities in Bahrain, while stimulating the economy.

SFD has collaborated closely and effectively with the Bahraini Ministry of Works to realize the project that will accommodate approximately 140,000 vehicles per day.

Al-Fateh Street is as an essential component of Bahrain’s transportation network.

The project was inaugurated as part of the ongoing development cooperation between the two kingdoms that have been ongoing since 1976.

Over the years, SFD has contributed towards 30 major development projects in Bahrain, across diverse sectors including energy, transportation, communications and social infrastructure.

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Saudi Arabia Plans to Establish Specialized Courts to Boost Investment Climate

King Abdullah Financial Center in Riyadh (Asharq Al-Awsat)
King Abdullah Financial Center in Riyadh (Asharq Al-Awsat)
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Saudi Arabia Plans to Establish Specialized Courts to Boost Investment Climate

King Abdullah Financial Center in Riyadh (Asharq Al-Awsat)
King Abdullah Financial Center in Riyadh (Asharq Al-Awsat)

Saudi Arabia is exploring the establishment of specialized courts to enhance its investment environment, aligning with the goals of the National Investment Strategy and Vision 2030. This initiative aims to support development and improvement efforts tailored to the needs and aspirations of investors.
The Kingdom has undergone an unprecedented transformation, implementing over 800 reforms to date. These include the Civil Transactions Law, the Bankruptcy Law, the Public-Private Partnership Program, and the Government Tenders and Procurement Law, which have collectively positioned Saudi Arabia as the 16th most competitive nation globally, according to the IMD World Competitiveness Index.
According to information available to Asharq Al-Awsat, the Ministry of Investment is currently consulting public and private entities to assess the necessity of specialized investment courts. This initiative focuses on improving investors’ interactions with the Kingdom’s judicial system amidst rapid legislative advancements, with the aim of bolstering Saudi Arabia’s status as a leading regional and global investment destination.
To ensure effective planning, the Ministry is working closely with key government agencies operating in strategic sectors. It has requested detailed input from relevant bodies, involving decision-makers to contribute to the project.
In August 2024, Saudi Arabia announced an updated investment law set to take effect in early 2025. This framework is designed to attract global investments, enhance the competitiveness of the local investment climate, support economic diversification, and create job opportunities, all in alignment with Vision 2030 and the National Investment Strategy.
The updated law is a cornerstone of the National Investment Strategy launched by Crown Prince Mohammed bin Salman. It aims to drive development, diversify the economy, and attract more than $100 billion annually in foreign direct investment by 2030.
The law enhances investor rights by ensuring fair treatment, protecting intellectual property, and allowing freedom in investment management and seamless capital transfers. It also provides transparency and clarity in processes, aligning with global best practices to foster a trustworthy investment environment. Simplified procedures now replace the previous licensing system, offering greater protection, flexibility, and confidence to investors conducting business in the Kingdom.
Saudi Minister of Investment Khalid Al-Falih emphasized that the updated law is part of broader reforms demonstrating the Kingdom’s commitment to creating a supportive and secure environment for both local and foreign investors. These efforts include adopting global best practices and revising the Foreign Investment Law, which was introduced 25 years ago, to develop a comprehensive investment framework that serves both Saudi and foreign investors.