Question

•What major regulations impact public firms in Saudi Arabia?

•How might the 2030 economic vision impact upon changes in regulation, discuss.

Answer 1

Major regulatory requirements in Saudi Arabia like implementation of Excise and VAT, minimum Saudi based employees, adoption of Bankruptcy Law, electronic foreign licensing has modifed businesses to become more Agile and Lean amd compliant to newer norms.

2030 vision being exemplary and gigantic will get hampered due to Saudinisation, Rolling VAT and excise on Tibacco and Cold drinks and many different products, stringent IP laws and penalties on non compliance, added cumbersome filing of returns as mandate and diversification of licenses will create barriers and delays to growth model. This will add substantial administration, legal and commercial costs and also create additional hiring costs for reskilling amd redeployment of talent.