AGREEMENT BETWEEN THE GOVERNMENT OF THE KINGDOM OF SAUDI ARABIA AND THE GOVERNMENT OF THE KINGDOM OF SWEDEN CONCERNING THE ENOCURAGEMENT

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AGREEMENTBETWEENTHE
GOVERNMENTOFTHEKINGDOMOFSAUDIARABIA
AND
THEGOVERNMENTOFTHEKINGDOMOFSWEDEN
CONCERNINGTHE
ENCOURAGEMENTANDRECIPROCAL
PROTECTIONOFINVESTMENTS
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TheGovernmentoftheKingdomofSaudiArabiaandtheGovernmentofthe
KingdomofSweden(hereinafterreferredtoasthe"ContractingParties");
DesiringtointensifyeconomiccooperationbetweenbothStates,intendingto
createfavourableconditionsforinvestmentsbyinvestorsofeitherStateinthe
territoryoftheotherState,recognizingthattheencouragementandreciprocal
protectionofsuchinvestmentsareapttostimulateprivatebusinessinitiative
andtoincreasetheprosperityofbothnations,haveagreedasfollows:
Article1
ForthepurposesofthisAgreement;
1.theterm"investment"meanseverykindofasset,ownedorcontrolled,
withdueregardtotheprovisionsoftheProtocolattachedtothis
Agreement,byaninvestorofaContractingPartyintheterritoryofthe
otherContractingPartyaccordingtoitslegislation,providedthatthe
investmenthasbeenmadeinaccordancewiththatParty'slegislation,and
inparticular,butnotexclusively,includes:
a
~
movableandimmovablepropertyaswellasanyotherrightsinrem,such
asmortgages,leases,liensandpledges,usufructsandsimilarrights,
includingpropertyunderaleasingagreement;
b
~
shares,stocksanddebenturesofcompaniesandotherkindsofrightsor
interestsincompaniesaswellassecuritiesissuedbyaContractingParty
oranyofitsinvestors;
oO
~
claimstomoneysuchasloansortoanyperformancehavinganeconomic
value,associatedwithaninvestment;
d)intellectualpropertyrights,includingbutnotlimitedtocopyrights,patents,
industrialdesigns,know-how,trademarks,tradeandbusinesssecrets,
tradenamesandgood-will;
e)anyrightconferredbylaworunderpubliccontractoranylicenses,permits
orconcessionsissuedaccordingtolaw.
Anyalterationoftheforminwhichassetsareinvestedorreinvestedshallnot
affecttheirclassificationasinvestment,providedthatsuchalterationisnotin
conflictwiththelegislationoftheContractingPartyintheterritoryofwhichthe
investmentismade.
memanne7
Theterm"returns"meanstheamountsyieldedbyaninvestmentin
particularbutnotexclusively,profits,capitalgains,dividends,royaities
oranysimilarfeesorpayments.
Theterm"investor"means:
inrespectoftheKingdomofSaudiArabia:
naturalpersonspossessingthenationalityoftheKingdomofSaudi
ArabiainaccordancewiththelawoftheKingdomofSaudiArabia;
accordancewiththelawsoftheKingdomofSaudiArabiaandhaving
itsheadofficeinitsterritorysuchascorporations,enterprises,
cooperatives,companies,partnerships,establishments,funds,
organizations,businessassociationsandothersimilarentities
irrespectiveofwhetherornottheyareoflimitedliability;
institutionsandauthoritiessuchastheSaudiArabianMonetary
Agency,publicfundsandothersimilargovernmentalinstitutions
existinginSaudiArabia.
inrespectoftheKingdomofSweden:
AnynaturalpersonwhoisanationaloftheKingdomofSwedenin
accordancewithitslaw.
applicable.intheKingdomofSweden.
Theterm“territory”meanstheterritoryofaContractingPartyaswellasthe
maritimeareasbeyondtheterritorialseawithrespecttowhicha
ContractingPartyexercisessovereignrightsorjurisdictioninaccordance
withinternationallaw.
Article2
EachContractingPartyshallinitsterritorypromoteasfaraspossible
investmentsbyinvestorsoftheotherContractingPartyandadmitsuch
investmentsinaccordancewithitslegisfation.
EachContractingPartyshallatalltimesaccordsuchinvestmentsfairand
equitabletreatment.NeitherContractingPartyshallinanywayimpairby
arbitraryordiscriminatorymeasuresthemanagement,maintenance,use,
enjoymentordisposalofinvestments,ortheacquisitionofgoodsand
3

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