Not every kid is meant to go to university or college. So, it makes sense to teach them entrepreneurial skills early
Minister of Municipalities and Rural Affairs Prince Miteb bin Abdul Aziz handed down the foreign investment friendly mandate, said a statement issued through the Saudi Press Agency on Sunday.
Architectural offices registered as foreign investment companies must be of Saudi origin to be able to bid on local contracts, tendered by the municipalities — all on the condition that these offices abide by Saudisation quotas and government procurement quotas.
Foreign investors registered through the Saudi Arabian General Investment Authority (SAGIA) can now open and run retail outlets, on the condition that foreign capital does not exceed 51 per cent at present and up to 75 per cent in three years' time.
Companies registered through SAGIA, meanwhile, need to apply for a commercial registration through the Ministry of Commerce and Industry, which is then vetted by municipal authorities.
Not every kid is meant to go to university or college. So, it makes sense to teach them entrepreneurial skills early
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