Type:	International treaty
Date of approval :	1417-10-18
accreditation:	Royal Decree
Approval number:	م/15
Type of Accreditation:	Totally
Validity:	Valid
Summary:	By AI A Royal Decree was issued by Fahd bin Al Saud approving an Agreement between the Kingdom of Saudi Arabia and the Italian Republic to promote and protect mutual investments. The Agreement aims to enhance economic cooperation and provide a suitable environment for investments, specifying the types of investments and the rights of investors. The provisions include guaranteeing fair treatment of investments, prohibiting arbitrary measures, and ensuring fair compensation in the event of confiscation....

ALg“

AGREEMENT

BETWEEN

THEKINGDOMOFSAUDIARABIAi

AND:

THEITALIANREPUBLIC

CONCERNING

THERECIPROCALPROMOTIONANDPROTECTION

OFINVESTMENTS

HIUs,

TheKingdomofSaudiArabia

and

TheItalianRepublic

desiringtointensifyeconomiccooperationbetweenboth

countriesintendingto.createfavourableconditionsfor

investmentsbyinvestorsofeithercountryintheterritory

oftheothercountry,recognizingthatthereciprocalpromo-

tionandprotectionofsuchinvestmentsareapttostimulate

privatebusinessinitiativeandtoincreasetheprosperity"

ofbothnations,haveagreedasfollows:

Article1

ForthepurposesofthisAgreement;.

1.theterm"investment"meanseverykindofasset,owned

orcontrolledbyaninvestorofaContractingPartyin

theterritoryoftheotherContractingPartyaccording

toitslegislationandinparticular,butnotexclusi-

velyincludes:

a)movableandimmovablepropertyaswellasanyother

rightsinrem,suchasmortgages,liensand

pledges,usufructsandsimilarrights;

b)shares,stocksanddebenturesofcompaniesand

otherkindsofrightsorinterestsincompaniesas

wellassecuritiesissuedbyaContractingParty

oranyofitsinvestors;

c)claimstomoneysuchasloansortoanyperformance

havinganeconomicvalue,associatedwithan

investment;

d)intellectualpropertyrights,includingbutnot

limitedtocopyrights,patents,industrialdesigns,

know-how,trademarks,tradeandbusinesssecrets,

tradenames,good-will;

(2)

II.

ITI.

naturalpersonspossessingthenationalityof

theKingdomofSaudiArabiainaccordancewith

thelawoftheKingdomofSaudiArabia;

anyentityhavingorhavingnolegalper-

sonalityandconstitutedinaccordancewith

thelawsoftheKingdomofSaudiArabiaand

havingitsheadofficeinitsterritorysuch

ascorporations,enterprises,cooperatives,

companies,partnerships,offices,establish-

ments,funds,organizations,businessasso-

ciationsandothersimilarentities

irrespectiveofwhetherornottheyareof

limitedliability;

theGovernmentoftheKingdomofSaudiArabia

anditsfinancialinstitutionsandauthorities

suchastheSaudiArabianMonetaryAgency,

publicfundsandothersimilargovernmental

institutionsexistinginSaudiArabia;

Italianswithinthemeaningoftheconstitu-

tionoftheItalianRepublic;

-—t

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Agreement between the Kingdom of Saudi Arabia and the Republic of Italy on the Promotion and Reciprocal Protection of Investments