The Middle East Legal Framework

Over the past five years Saudi Arabia has witnessed unprecedented legal, social and economic reforms. Such reforms extended to the public sector’s operating model, the economy and society as a whole, and the foundations have been laid for future success. There have been calls for legal and judicial reforms before, but now the Kingdom appears determined to heed those calls by...

In 2016 Saudi Arabia launched its ambitious economic transformation plan, Vision 2030. The long-term Vision 2030 involves diversifying the Saudi Arabian economy by steering the country away from its traditional dependence on oil. The ambition and scope of Vision 2030 is unprecedented, and the plan will promote the Kingdom’s regional, cultural and religious significance to...

Law No. 22 of 2018, known as the Reorganisation and Bankruptcy Law (New Law), was published in the Official Gazette on June 7, 2018 and came into effect on December 7, 2018. This repealed and replaced the Bankruptcy and Composition Law of 1987. The New Law brings innovation in bankruptcy dealings to the GCC, and encourages investment by laying...

The year 2019 saw several legislative changes in Oman aimed at encouraging business growth and diversification of the economy, which has so far relied heavily on the hydrocarbons industry. I would like to outline the major changes to the legal framework and the potential positive impact on Oman’s investment climate.

Kuwait is undergoing a substantial overhaul of its legal framework to promote investment in the country, develop local business opportunities and help diversify its economy. This process has gained significant momentum during the last 10 years. To assist with this, antiquated laws are being replaced and updated, such as the Companies Law, the...