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Activities exempted from foreign investment
Riyadh, Feb 11th, 2001

 

The Supreme Economic council (SEC) approved the list of economic sectors from which foreign investors will be excluded under the new foreign investment law.  The economic activities that are not open to foreign investors are:

 


 

 

  The Activity
First Manufacturing Sector

1

Oil exploration, drilling and production. (1)

2

Manufacturing of military equipment, devices and uniforms.

3

Manufacturing of civilian explosives.
Second Service Sector

1

Catering to military sectors.

2

Security and detective services.

3

Insurance services.

4

Real estate investment in Makkah and Madina.

5

Tourist orientation and guidance services related to Hajj and Umrah.

6

Recruitment and employment services including local recruitment offices.

7

Real estate brokerage.

8

Printing and publishing.

9

Distribution services, wholesale and retail trade(2), and commercial agencies(3).

10

Audiovisual and media services.

11

Primary, secondary and adult education.

12

Telecommunications services.

13

Land and air transportation.

14

Transmission and distribution of electrical power.

15

Satellite transmission services.

16

Pipeline services.

17

Services rendered by midwives, nurses, natural therapists and paramedics listed at 93191 by international classification codes.

18

Fisheries.

19

Blood banks, poison centers and quarantines.

(1) Except the services related to mining sector listed at (5115+883) in international industrial classification codes.

(2) including medical retail services such as private pharmacies.

(3) Except franchise rights listed at (8929) by international industrial classifications, with foreign ownership not exceeding (49%), and the granting of one franchise to each area.

Saudia-Online.com©
Source:
SAGIA 

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04 September 2002 04:18:12 PM