Establishes an Investment Promotion Authority

On 2 August 2022, the Government of the Kingdom of Saudi Arabia approved the establishment of the Saudi Investment Promotion Authority (SIPA), which will work to attract national and foreign investment as part of the National Investment Strategy, a major objective of the Kingdom’s economic reform programme.

It is expected that the SIPA will collaborate with the Ministry of Investment to gather opinions and prepare proposals for laws, procedures and manuals. The new authority will help the Ministry of Investment in international cooperation and in attracting consulates and diplomatic commercial representations, facilitating investors’ access to and understanding of laws related to investment in the Kingdom.

• Type:

  • Promotion and facilitation (Investment facilitation )

• Industry:

  • Not industry specific

• Sources:

  • Government of Saudi Arabia, Minister of Investment Expresses his Gratitude to the Leadership for Cabinet's Decision to Launch Saudi Investment Promotion Authority, https://www.spa.gov.sa/viewfullstory.php?lang=en&newsid=2374036, 02 Aug 2022
  • arabnews, Investment Promotion Authority: A major economic reform, https://www.arabnews.com/node/2144246, 16 Aug 2022
  • reuters, Saudi Arabia sets up investment promotion agency, https://www.reuters.com/world/middle-east/saudi-arabia-sets-up-investment-promotion-agency-2022-08-02/, 02 Aug 2022