Welcome to the Saudi Arabia focus edition of Law Update.
One of the key markets in the Middle East and North Africa (MENA) that continues to lead from the front is the Kingdom of Saudi Arabia (KSA). As the largest country in the Middle East and the 18th largest economy in the world, the progress KSA continues to make is underpinned by its Vision 2030 that envisions developing the country as an investment powerhouse and hub that ultimately connects Asia, Europe, and Africa. Given Saudi Arabia’s significance to the regional economy, our team of experts have prepared a range of pertinent articles that provide insights into new laws, regulations, and the legal landscape in the Kingdom.
This edition will provide you with an up-to-date guide on matters such as; the framework issued by the Saudi Central Bank on IT governance, the anti-corruption landscape under Vision 2030; we also provide practical tips for dispute avoidance. This is only a snapshot; there are many more articles within the KSA focus section for you to read, which we hope you will find valuable and enjoyable.Read the edition
On Tuesday 24th of April, we held our first bespoke KSA Vision 2030 focused event, which was also our largest and most successful event in Saudi Arabia to date. Entitled ‘Foreign Investment in KSA: The Road to Vision 2030’ the half-day event provided a forum for a number of high profile industry experts to share their knowledge and views on important topics such as foreign investment, the future of privatisation and PPPs, establishing business and the prevention of cybercrime in the Kingdom. With the overarching theme throughout being Vision 2030.
Our Senior Partner and Founder, Essam Al Tamimi, welcomed over 150 guests, which included a large number of local and international business representatives, government officials and key media outlets. Our first panel which addressed Foreign Investment in KSA, included guest speakers Khalid Abdullah Al Hussan, CEO of the Saudi Stock Exchange (Tadawul), Ibrahim Suwail, Deputy Governor of Investor Services at SAGIA and Dr. Ahmed Khattan, Deputy Minister of Labour Policy for the Ministry of Labour. Moderated by John Sfakianakis, Director of Economic Research for the Gulf Research Center the session presented a number of differing and captivating views and points of discussion.
Later panels sessions included special guest speakers Laurent Viviez and Ashish Singhal from AT Kearney and Dr Saleh Shoaib, Corporate Affairs Manager from Microsoft, covering the very interesting topics of doing business in KSA and the issue of cybersecurity and financial cybercrime in the Kingdom.
Throughout the event, our Al Tamimi lawyers; Grahame Nelson, Partner, Head of Office – Riyadh, Hesham Al Homoud, Partner, Head of Corporate Structuring – KSA, Rakesh Bassi, Head of Office – Jeddah and Nick O’Connell, Partner, Head of Technology, Media & Telecommunications – KSA participated in the discussions.
The event was a great success and provided a platform to gather key stakeholders and decision makers to share insights and address the most pressing topics.