Saudi moving fast on new restructuring law

Author: | Published: 11 Dec 2018

Saudi Arabia’s new law introduces a framework for the winding down of distressed businesses in the country for the first time

The Kingdom of Saudi Arabia is making important changes to transform the Saudi market into a global investment centre in the region and one of the largest economies in the world. The economic goals are set out in the National Transformation Plan 2020 (NTP) and Vision 2030. One of the top priorities under the NTP and Vision 2030 is the development of the commercial sector. As such, Saudi government authorities have recently implemented various laws to facilitate and regulate the operation of businesses. The changes aim to ease restrictions and adjust internal regulations to support businesses and decrease the possibility of liquidations....