Expats to be allowed to manage Saudi-owned companies
Move announced by Ministry of Commerce
Dubai: Saudi Arabia’s Ministry of Commerce and Investment announced that expatriates will be allowed to manage Saudi-owned companies, local media reported.
The announcement was made after the Ministry of Justice had revoked a previous ministerial decision stipulating that it is not permissible for an expatriate resident to manage a Saudi company or authorising him through a judicial order to act on behave of a Saudi citzen.
A circular to this effect was issued by Dr. Walid Al Samaani, Minister of Justice, who stated the ministry received a request from Minister of Commerce Majed Al Qasabi, to annul the decision and further allow an expat to run a national company.
Al Samaani is also the chairman of the National Competitiveness Centre (Tayseer). “A working team was formed by the Ministry of Commerce to study the issue, and came to the conclusion that there is no objection on appointing non-Saudis as managers of Saudi-owned companies, as well as in authorising expatriates to act in place of Saudis for running the companies,” the circular said.