• The terms and words mentioned below - wherever they appear in this regulation - shall have the meanings specified in front of each, unless the context of the text requires otherwise:

• Regulation: Regulation of the Saudi Authority for Investment Promotion.

• Ministry: Ministry of Investment.

• Minister: Minister of Investment.

• Authority: Saudi Authority for Investment Promotion.

• Council: Board of Directors of the Authority.

• President: President of the Council.

• CEO: CEO of the Authority.

• Investment Promotion: A set of activities related to encouraging investors to invest and expand their investments in investment opportunities and projects in the Kingdom, and promoting them both inside and outside the Kingdom, including: communication with investors, organizing events, activities, exhibitions, and forums.

• The Authority enjoys legal personality and financial and administrative independence, and is organizationally linked to the Minister. Its main headquarters is in the city of Riyadh, and it may establish branches or offices inside and outside the Kingdom as needed.

• The Authority aims to position the Kingdom as a global and local investment destination, market investment opportunities across all sectors and their components, and enhance business and services related to investment marketing; in light of the general investment policies and their executive plans prepared by the Ministry. Without prejudice to the competencies and responsibilities of other entities, it may undertake all necessary actions to achieve its objectives, including the following:

  • 1- Preparing the general policies related to its activity, and the necessary plans and programs for their implementation, and submitting what requires completion of procedures in this regard.
  • 2- Preparing the strategy for investment marketing, and the necessary plans and programs for its implementation, and submitting what requires completion of procedures in this regard.
  • 3- Conducting activities related to investment marketing inside and outside the Kingdom; to introduce the advantages, opportunities, and incentives of investment in the Kingdom. The Authority may delegate the execution of any of the aforementioned activities to the entity concerned with the subject of investment marketing.
  • 4- Managing the unified national identity for marketing and attracting investments to the Kingdom, and activating it in coordination with the Ministry and relevant entities; to unify messages and content and coordinate marketing and media efforts for investment.
  • 5- Proposing amendments to the systems related to its competencies, and submitting them to complete the legal procedures in this regard.
  • 6- Supporting investment marketing activities carried out by ministries, relevant entities, and the private sector ecosystem.
  • 7- Developing and implementing media plans supporting investment marketing inside and outside the Kingdom.
  • 8- Organizing and holding meetings, conferences, forums, and exhibitions for investment marketing inside and outside the Kingdom, and participating in them by any means deemed appropriate.
  • 9- Participating with the Ministry in determining indicators that measure the performance of investment marketing.
  • 10- Utilizing specialists and experts from distinguished local and international companies and institutions to provide professional products and tools and benefit from their expertise in their fields of specialization.
  • 11- Encouraging partnerships that achieve development goals between local and foreign investors.
  • 12- Issuing the necessary approvals for government entities to hold exhibitions, forums, and conferences in the field of investment marketing.
  • 13- Working on attracting international conferences related to investment marketing, contributing to the development of local conferences, supporting them, and initiating new initiatives in this regard, according to legal procedures.
  • 14- Cooperating and exchanging expertise with government entities, regional and international organizations, and similar bodies in other countries, within the limits of its competencies.
  • 15- Providing support for the Ministry’s programs and initiatives related to investment marketing outside the Kingdom.
  • 16- Collecting, cataloging, and following up on investors’ views and challenges received, and providing them to the Ministry for resolution.
  • 17- Participating in international organizations and associations related to its competencies; according to legal procedures.
  • 18- Representing the Kingdom in international forums and exhibitions related to its competencies.
  • 19- Preparing studies and research related to investment marketing, and issuing periodic and specialized reports.

• The authority shall have a Board of Directors chaired by the Minister, and membership includes:

  • 1- A representative from the Ministry of Investment.

  • 2- Representatives from government entities not exceeding (four), and these entities are determined by an order from the President of the Council of Ministers based on a proposal from the President.

  • 3- Representatives with expertise and specialization in the fields of work of the authority not exceeding (three), appointed by an order from the President of the Council of Ministers based on a nomination from the President.

  • 4- The rank of the representatives of the government entities in the council referred to in paragraphs (1) and (2) of this article, shall not be less than (fifteenth) or its equivalent.

  • The term of membership in the council is (three) years, renewable once.

• The Council is the supreme authority of the Authority, overseeing its management and affairs, and making all necessary decisions to achieve its objectives within the limits of what the law provides. It has, in particular, the following powers:

  • 1- Approving the general policies related to the Authority's activities, and the plans and programs necessary for their implementation, and raising any matters that require completing procedures in this regard.

  • 2- Approving the strategy for marketing investment, and raising any matters that require completing procedures in this regard.

  • 3- Proposing amendments to the laws related to the Authority's competencies, and raising them for completing the legal procedures in this regard.

  • 4- Approving the administrative regulations in agreement with the Ministry of Human Resources and Social Development, and approving the financial regulations and provisions with financial implications in other regulations in agreement with the Ministry of Finance.

  • 5- Approving the internal regulations and other regulations necessary for the operation of the Authority.

  • 6- Approving the organizational structure and organizational guide of the Authority.

  • 7- Approving the establishment of branches and offices of the Authority inside and outside the Kingdom.

  • 8- Determining the financial compensation for the works and services provided by the Authority.

  • 9- Approving the annual budget project of the Authority, its final account, and its annual report; in preparation for its adoption according to legal procedures.

  • 10- Appointing an external auditor and an internal financial controller.

  • 11- Approving the conclusion of agreements and contracts, according to legal procedures.

  • 12- Accepting gifts, donations, grants, bequests, and endowments; in accordance with the governing provisions.

  • 13- Reviewing the periodic reports submitted to it regarding the progress of the Authority's work.

  • 14- Approving the Authority's participation in international specialized organizations and associations; according to legal procedures.

  • The Council, in order to achieve these competencies, may form permanent or temporary committees from its members or others, assigning to them tasks it deems necessary, and specifying in the decision to form each committee its chairperson and its members and their competencies. Committees may seek assistance from whoever they deem necessary to perform the tasks assigned to them.

  • The Council may delegate some of its competencies to the President, or to any of its members or employees of the Authority.

• 1- The Council meets regularly (at least twice) a year, and whenever necessary as determined by the President. The meetings are chaired by the President or a member appointed by him from the representatives of the government entities in the Council. The invitation to the meeting is issued by the President or his appointee, and the validity of the meeting requires the presence of at least the majority of the members, including the President or his appointee. Decisions are made by a majority of the votes of the attending members, and in the event of a tie, the side that the President of the meeting voted for prevails.

• 2- The deliberations, decisions, and recommendations of the Council are recorded in minutes signed by the President of the meeting and the attending members.

• 3- The Council may invite anyone it deems appropriate to attend its meetings to benefit from their information and expertise, without having the right to vote.

• 4- A member may not abstain from voting, nor delegate another member to vote on their behalf in their absence. An objecting member has the right to record their objection and the reasons for it in the minutes of the Council meeting.

• 5- The meetings of the Council are held at the headquarters of the authority. They may be held elsewhere if necessary.

• 6- The Council may, when necessary and in urgent cases, and as determined by the President, issue a decision or recommendation by circulation, which is signed to indicate that all members have been informed of it. Recommendations and decisions issued in this manner are not considered valid unless they are circulated to all members of the Council, voted on, and receive at least a majority of their votes.

• 7- The Council may, when necessary and in urgent cases, and as determined by the President, hold meetings and vote on decisions remotely using technological means.

• 8- The Council establishes the rules and procedures governing the holding of its meetings remotely, including the procedures for inviting to meetings and how they are conducted.

• The Authority shall have an Executive President who is appointed and dismissed by a decision of the Council based on a nomination from the President. He is responsible for managing the affairs of the Authority, and his responsibilities are focused within the limits of the organization and what the Council decides. He shall undertake the following competencies:

  • 1- Supervising the preparation of general policies related to the Authority's activities, and the plans and programs necessary for their implementation, and submitting them to the Council.

  • 2- Supervising the preparation of the strategy for marketing investment, and the plans and programs necessary for its implementation, and submitting them to the Council.

  • 3- Supervising the workflow in the Authority through the approved systems, regulations, plans, and programs.

  • 4- Contracting with experts and consultants and consulting firms to serve the goals and competencies of the Authority, according to what is determined by the Authority's regulations and the applicable legal procedures.

  • 5- Supervising the preparation of administrative and financial regulations that govern the Authority, and other internal regulations necessary for the operation of the Authority; in preparation for submitting them to the Council for approval.

  • 6- Proposing the organizational structure and organizational guide for the Authority, and submitting them to the Council.

  • 7- Proposing plans to develop the investment marketing activity in the Kingdom.

  • 8- Supervising the preparation of reports related to the implementation of the Authority's plans and programs, and presenting them to the Council.

  • 9- Supervising the preparation of the Authority's annual report and its budget draft and final account, and submitting them to the Council for approval; in preparation for completing the necessary legal procedures regarding them.

  • 10- Signing agreements and contracts related to the Authority's competencies after the Council's approval, and according to the applicable legal procedures.

  • 11- Representing the Authority before the judiciary, and before government agencies and other relevant institutions, and other entities inside and outside the Kingdom, and he may delegate others in this regard.

  • 12- Disbursing from the Authority's budget, and taking all financial actions; according to the regulations and rules approved by the Council, and within the limits of the powers delegated to him by the Council.

  • 13- Contracting to implement works, services, and others; according to the regulations and powers delegated to him by the Council.

  • 14- Proposing the establishment of branches or offices for the Authority inside and outside the Kingdom.

  • 15- Issuing the necessary decisions to implement the provisions contained in the organization and the regulations issued thereunder and the approved rules and procedures, according to the powers granted to him.

  • 16- Approving work procedures based on the regulations and decisions issued by the Council.

  • 17- Appointing the Authority's staff and supervising them, according to the regulations governing that.

  • 18- Any other competencies assigned to him by the Council.

  • The Executive President may delegate some of his competencies to whomever he sees fit among the Authority's staff.

The Labor Law and the Social Insurance Law apply to the employees of the Authority.

• 1- The Authority shall have an independent annual budget.

• 2- The financial year of the Authority is the same as the financial year of the state.

• 1- The resources of the authority consist of the following:

  • A- What is allocated to it in the state’s general budget.

  • B- The financial compensation it receives in return for the services and works it provides.

  • C- What the council accepts in terms of gifts, donations, grants, bequests, and the proceeds of endowments.

  • D- Any other resource approved by the council that does not violate the regulations and instructions.

• 2- All revenues of the authority shall be deposited in a current account of the Ministry of Finance at the Saudi Central Bank.

• 3- An account shall be opened for the authority at the Saudi Central Bank, and it may open other accounts at any of the banks licensed to operate in the Kingdom, and disbursements from these accounts shall be made according to its approved budget.