Saudi Arabia has made it clear on Sunday,13th December 2020 that its investment plans in India have not gone out of track and expressed confidence saying Indian economy has all the potential to bounce back from the adverse effects of the deadly coronavirus pandemic and will attract increased FDI inflow and new company-registration-in-India.
Saudi Arabia has enacted a new Professional Companies Law (PCL) that will have a direct effect on professional partnerships existing in the Saudi Arabian market including those providing engineering consultancy, legal and accounting services to name a few as well as the new entrants in the market
Saudi Arabia represented by the Saudi Data and AI Authority (SDAIA) and the International Telecommunication Union (ITU) of the United Nations has recently reached a Memorandum of Understanding (MOU) to collaborate on initiatives aimed at supporting, strengthening and optimizing the benefits of Artificial Intelligence (AI) for sustainable development globally.
Saudi Arabia’s vision 2030 was developed in 2016 and was centered on three primary themes – a vibrant society, a thriving economy and an ambitious country. The iconic vision was built by the Council of Economic and Development Affairs, which is chaired by Deputy Crown Prince Mohammed bin Salman.
On May 2nd, Saudi Arabia’s state news agency announced that Social Development Bank introduced an initiative package that would provide small businesses and sole proprietorships with 9 billion Riyals ($2.4 billion USD) in Coronavirus relief funds.