• The phrases and words mentioned below - wherever they appear in these arrangements - shall have the meanings specified next to each of them unless the context of the text requires otherwise:

• ‎Arrangements: The organizational arrangements 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.

• Chief Executive Officer: Chief Executive Officer of the Authority.

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

• The Authority aims to achieve integration and cooperation among entities and to elevate all activities and services related to marketing investment and promoting the Kingdom as an investment destination, highlighting investment opportunities across all sectors, and enhancing and unifying the efforts of both the public and private sectors in this regard. It ensures the existence of the necessary pillars and supports in terms of programs, projects, and incentives to encourage and facilitate investment for the benefit of the national economy, in light of the policies, plans, and developmental programs for investment set forth by the Ministry in accordance with its competencies. Without prejudice to the competencies and responsibilities of other entities, it has the authority to undertake all necessary actions to achieve its objectives, including the following:

• 1 - Supporting the marketing activities of the Kingdom's investments carried out by ministries, relevant entities, and the private sector system.

• 2 - Managing the unified national identity for marketing and attracting investments in the Kingdom and activating it in coordination with the Ministry and relevant entities; in order to unify messages and content and coordinate marketing and media efforts for investment.

• 3 - Managing the "Invest in Saudi Arabia" electronic platform, updating it periodically in cooperation with the Ministry and relevant entities, marketing it, and making it available to investors.

• 4 - Preparing plans and programs related to marketing - locally and internationally - to encourage investment in the Kingdom, and completing what is necessary in this regard in coordination with the Ministry.

• 5 - Conducting marketing campaigns inside and outside the Kingdom to introduce the advantages, opportunities, and incentives for investment in the Kingdom, or contributing to them with government entities.

• 6 - Developing supportive media plans for marketing investment and implementing them inside and outside the Kingdom in coordination with the Ministry.

• 7 - Holding and organizing meetings, conferences, forums, and exhibitions inside and outside the Kingdom and participating in them by any means deemed appropriate in coordination with the Ministry and relevant entities, in a manner that serves the marketing of investment in the Kingdom.

• 8 - Creating standard indicators and statistical surveys related to investment and implementing them directly, or in cooperation with other relevant entities, and developing them to achieve their objectives, and submitting them to the Ministry.

• 9 - Seeking the assistance of specialists and experts from distinguished local and international companies and institutions to provide professional products and tools and to benefit from their expertise in the fields of the Authority's specialization.

• 10 - Encouraging and supporting partnerships that achieve development goals between local investors and foreign investors.

• 11 - Issuing the necessary approvals for government entities to establish investment marketing initiatives and encouraging them, and providing technical support through supporting their participation in conferences and events inside and outside the Kingdom, in accordance with regulatory procedures.

• 12 - Working to attract international conferences related to investment marketing, contributing to the development of local conferences, supporting them, and creating new initiatives, in accordance with regulatory procedures.

• 13 - Cooperating and exchanging experiences with government entities, regional and international organizations, and similar entities in other countries within the limits of the Authority's competencies.

• 14 - Participating in international organizations and associations related to its competencies; in accordance with regulatory procedures.

• 15 - Representing the Kingdom in international forums related to its competencies.

• 16 - Preparing studies and research related to the investment marketing sector.

• 17 - Issuing periodic and specialized reports.

The authority shall have a Board of Directors chaired by the Minister, with the membership of the following:  
1 - Members not exceeding (four) who represent governmental entities related to the authority's activities, provided that each of them holds a rank of no less than (twelfth, or its equivalent), and their membership shall be for a period of (three) years, renewable once. These entities shall be determined by a decree from the President of the Council of Ministers based on a proposal from the President.  
2 - Three members from the private sector with a connection to investment marketing, whose appointment shall be issued by a decree from the President of the Council of Ministers based on a nomination from the President, and their membership shall be for a period of (three) years, renewable once.

The Council is the supreme authority of the Authority, overseeing the management of the Authority and conducting its affairs. It makes all necessary decisions to achieve its objectives within the limits of what is included in the arrangements, and 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 regarding them. 
2- Preparing a draft strategy for encouraging and attracting investment - in coordination with the Ministry and submitting it for approval according to the legal procedures. 
3- Proposing amendments to the laws related to the Authority's competencies and submitting them to the Ministry; in preparation for their approval according to the legal procedures.
4- Approving the administrative and financial regulations, provided that the approval of the administrative regulations is in agreement with the Ministry of Human Resources and Social Development, and the approval of the financial regulations and provisions with financial implications in the administrative regulations is 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 controls and conditions governing the investment opportunities that are marketed through the Authority. Approving the organizational structure of the Authority.
7- Approving the organizational structure of the Authority.
8- Approving the establishment of branches and offices of the Authority inside and outside the Kingdom.
9- Supervising the Ministry's offices outside the Kingdom related to the Authority's competencies, in coordination with the Ministry.
10- Approving the financial compensation for the works and services provided by the Authority.
11- Approving the draft annual budget of the Authority and its final account, and its annual report; in preparation for their approval according to the legal procedures. 
12- Seeking assistance from research and planning centers, consulting firms, and consultants; to achieve the Authority's objectives. 
13- Appointing an external auditor and an internal financial controller. 
14- Approving the conclusion of agreements and contracts according to the legal procedures. 15- Accepting gifts, donations, grants, bequests, and endowments in accordance with the governing provisions for that. 
16- Reviewing the periodic reports submitted to it regarding the progress of the Authority's work.
17- Approving the Authority's participation in specialized international organizations and associations; according to the legal procedures.
The Council - in order to achieve these competencies - may form permanent or temporary committees from among its members or others, assigning them tasks it deems appropriate, and specifying in the decision to form each committee its chairperson, members, and competencies. Committees may seek assistance from whomever they deem necessary to perform the tasks assigned to them. 
The Council may delegate some of its competencies to the President, or to whomever it sees fit from its members or from the Authority's staff.

1- The Council meets periodically (at least four) times a year, and whenever necessary as determined by the President. The meetings are chaired by the President or a member designated by him, and the invitation to the meeting is issued by the President or his delegate. The validity of the meeting requires the presence of at least the majority of the members, including the President or his delegate, and decisions are made by a majority of the votes of the attending members at least. In the event of a tie, the side that the President of the meeting voted for prevails.
2- The deliberations and decisions of the Council are recorded in minutes signed by the President of the meeting and the attending members. 
3- The Council may invite individuals to attend its sessions whose information and expertise it deems beneficial, without granting them the right to vote. 
4- A member may not abstain from voting nor delegate another member to vote in their absence. A member who objects to any decision may record their objection with justification in the minutes.
5- The meetings of the Council are held at the headquarters of the Authority. They may also be held at another location within the Kingdom if necessary.
6- The Council may, when necessary and in urgent cases, and as determined by the President, issue a decision by circulation, provided that all members of the Council agree to the decision. This decision shall be presented to the Council at the first subsequent meeting to be recorded in the minutes of the meeting. 
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 President or his delegate from the members.

The Authority shall have a Chief Executive Officer who is appointed and dismissed from his position by a Decision of the Council. The Decision shall specify his salary and other financial benefits, and he shall be responsible for managing the affairs of the Authority. His responsibilities are concentrated within the limits of the arrangements and what the Council decides, and he shall undertake the following competencies: 
1 - Preparing the necessary plans and policies to implement the strategies related to the Authority's activities and submitting them to the Council.
2 - Supervising the workflow in the Authority through the approved systems, regulations, plans, and programs. 
3 - Preparing the administrative and financial regulations that govern the Authority, along with other internal regulations; in preparation for submitting them to the Council for approval.
4 - Proposing the organizational structure of the Authority and submitting it to the Council. 
5 - Preparing reports related to the implementation of the Authority's plans and programs and presenting them to the Council.
6 - Signing agreements and contracts related to the Authority's competencies after obtaining the Council's approval, and in accordance with the applicable legal procedures. 
7 - Representing the Authority before the Judiciary, and before government entities and other relevant institutions, as well as other entities inside and outside the Kingdom. 
8 - Disbursing from the Authority's budget and taking all financial actions; in accordance with the regulations and rules approved by the Council and within the limits of the powers delegated to him by the Council. 
9 - Contracting for the execution of works and services, among others; in accordance with the regulations and powers delegated to him by the Council.
10 - Proposing the establishment of branches or offices for the Authority inside and outside the Kingdom, and submitting them to the Council. 
11 - Issuing the necessary Decisions to implement the provisions contained in the arrangements and regulations issued thereunder, according to the powers granted to him. 
12 - Appointing the Authority's personnel in accordance with the regulations governing that, and supervising them. 
13 - Any other competencies assigned to him by the Council.
The Chief Executive Officer may delegate some of his competencies to whomever he sees fit among the Authority's personnel. 

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 shall be the same as the financial year of the State. Exceptionally, the first financial year shall commence from the date of approval of these arrangements and shall end at the conclusion of the following financial year.

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

  •  A- What is allocated to it in the general Budget of the State. 

  • 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 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 the current account of the Ministry of Finance at the Saudi Central Bank. 

• 3- The Authority shall open an account for itself at the Saudi Central Bank and may open other accounts at any of the banks licensed to operate in the Kingdom, and expenditures from these revenues shall be made according to the approved budget of the Authority.