Latest news with #MinistryOfInvestment
Malay Mail
5 hours ago
- Business
- Malay Mail
Anwar defends Tengku Zafrul's role in investment and trade portfolio, says will stay on as minister despite Umno exit
KUALA LUMPUR, June 1 — Prime Minister Datuk Seri Anwar Ibrahim today said Datuk Seri Tengku Zafrul Abdul Aziz will remain with his portfolio despite quitting Umno to join PKR. He said Tengku Zafrul has performed well in his current role in the Ministry of Investment, Trade and Industry, particularly in overseeing substantial investments involving various agencies. 'His ministerial duties remain unchanged,' he told reporters when met at Kuala Lumpur International Book Fair 2025 here. 'We want him to continue his work, especially in the investment portfolio. His contributions are still needed by the country.' Anwar's remark came amid calls from Umno for it to retain seven ministerial posts after Tengku Zafrul announced his is joining PKR. He also reiterated that PKR has not had any detailed discussion over Tengku Zafrul's application to joint. The PKR president also urged the public and media to avoid overthinking the move by the minister formerly from Umno. 'Yes, he has applied to join PKR, but we have not deliberated on it thoroughly. For now, let it be. 'There's no need for excessive interpretations that might be unhealthy,' he added. Anwar said the application would be reviewed with fairness, in consultation with the party's grassroots. Yesterday, Umno president Datuk Seri Ahmad Zahid Hamidi said he is confident Anwar would consider reinstating the allocation in line with the party's role in the unity government. This came after Tengku Zafrul said he has resigned from Umno and is vacating his seat on the Umno Supreme Council as well as his position as its Kota Raja division chief.
Argaam
3 days ago
- Business
- Argaam
Saudi Arabia seeks to privatize stadiums: Official
Basim Ibrahim, Sport Sector Investment Development Director, the Ministry of Investment, said there are distinctive investment opportunities managed by the Ministry of Sports in the Kingdom. This includes offering sports stadiums to the private sector for management and commercial operation. Thus, the stadiums would turn entirely into a commercial project, not only intended for hosting sports matches. In an interview with Asharq, Ibrahim confirmed that the Ministries of Sports and Investment are working on privatizing sports clubs. He added that eight clubs were already privatized in the first phase, and 14 others will be offered for privatization in the second phase. The remaining clubs will also be privatized in other phases. There is still a focus on specialized sectors in the investment field, including sports medicine, sports manufacturing, and sports technology, Ibrahim said. He added that investors are being assured that this is the ideal time to enter the Saudi market and seize other opportunities such as attracting sports academies, gyms, and sports tourism.
Zawya
6 days ago
- Business
- Zawya
The CMA calls for public consultation on the draft regulatory framework for the offshore securities business license
The Capital Market Authority (CMA) called upon relevant and interested persons participating in the capital market to share their feedback on the Draft Regulatory Framework for the Offshore Securities Business License. The consultation period will last for 30 calendar days, ending on 03/01/1447H, corresponding to 28/06/2025. The proposed draft aims to enhance the Kingdom's position as a regional and global financial hub for securities by enabling local capital market institutions and attracting a number of international capital institutions, by granting them an Offshore Securities Business License through their regional headquarters licensed by the Ministry of Investment, and by adopting the regulatory framework for this activity. According to the proposed draft, the CMA will allow capital market institutions, both local and international, to apply for an Offshore Securities Business License, provided they obtain a regional headquarters license from the Ministry of Investment. This Offshore Securities Business License will enable such institutions to conduct securities activities outside the Kingdom, as well as manage funds investing in securities within the Kingdom. These services may be offered to foreign clients abroad, in addition to a specified category of local clients. The proposed draft includes a set of facilitations for obtaining the Offshore Securities Business License. These include eased requirements related to legal structure, minimum paid-up capital, registration of required positions, financial adequacy obligations, and other relevant conditions, aligned with leading international standards and global best practices suitable for the Saudi capital market. The CMA is also working to enable holders of the Offshore Securities Business License to establish investment funds in the Kingdom with flexible structures through its strategic initiative titled "Enabling the Establishment of More Flexible Fund Structures". It also aims to enhance investment opportunities in regional financial markets and expand the client base by allowing engagement with sovereign wealth funds and pension funds in the Kingdom. Furthermore, a legal entity affiliated with a local capital market institution and holding a license from the Ministry of Investment will also be eligible to apply for the Offshore Securities Business License. The proposed draft will contribute to diversifying the investor base associated with capital market institutions, in addition to enhancing the volume of assets under management in the Saudi capital market, positively impacting the attractiveness of the local market. The proposal to grant the license aligns with efforts to develop the financial sector and complements the Regional Headquarters Program as it pertains to financial institutions offering securities services. This initiative is expected to help attract knowledge and facilitate the transfer of expertise within the securities sector. It is worth noting that the license will be subject to the laws and regulations of the Kingdom, including the Capital Market Law and its implementing regulations, in accordance with the specific regulatory framework defined in the relevant regulations based on the scope of securities business conducted. The license will carry fewer regulatory requirements than existing licenses. The CMA emphasized that the comments of relevant and interested persons shall be taken into full consideration for the purpose of approving the final Proposed Amendments, which in turn shall contribute to the aim of enhancing and developing the regulatory environment. Opinions and comments can be received through any of the following: •The Unified Electronic Platform for Consulting the Public and Government Entities (Public Consultation Platform), affiliated with the National Competitiveness Center through the following link: ( •The prescribed form through the following email: (
Argaam
7 days ago
- Business
- Argaam
CMA seeks public feedback on draft regulation for offshore securities business license
The Capital Market Authority (CMA) called upon relevant and interested persons participating in the capital market to share their feedback on the draft regulatory framework for the offshore securities business license. The consultation period will last for 30 calendar days, ending on June 28, 2025, the regulator said, in a statement. The proposed draft aims to enhance the Kingdom's position as a regional and global financial hub for securities by enabling local capital market institutions and attracting a number of international capital institutions, by granting them an Offshore Securities Business License through their regional headquarters licensed by the Ministry of Investment, and by adopting the regulatory framework for this activity. According to the proposed draft, CMA will allow capital market institutions, both local and international, to apply for an Offshore Securities Business License, provided they obtain a regional headquarters license from the Ministry of Investment. This Offshore Securities Business License will enable such institutions to conduct securities activities outside the Kingdom, as well as manage funds investing in securities within the Kingdom. These services may be offered to foreign clients abroad, in addition to a specified category of local clients. The proposed draft includes a set of facilitations for obtaining the offshore securities business license. These include eased requirements related to legal structure, minimum paid-up capital, registration of required positions, financial adequacy obligations, and other relevant conditions, aligned with leading international standards and global best practices suitable for the Saudi capital market. The CMA said it is also working to enable holders of the Offshore Securities Business License to establish investment funds in the Kingdom with flexible structures through its strategic initiative titled "Enabling the Establishment of More Flexible Fund Structures". It also aims to enhance investment opportunities in regional financial markets and expand the client base by allowing engagement with sovereign wealth funds and pension funds in the Kingdom. Furthermore, a legal entity affiliated with a local capital market institution and holding a license from the Ministry of Investment will also be eligible to apply for the Offshore Securities Business License. The proposed draft will contribute to diversifying the investor base associated with capital market institutions, in addition to enhancing the volume of assets under management in the Saudi capital market, positively impacting the attractiveness of the local market. The proposal to grant the license aligns with efforts to develop the financial sector and complements the Regional Headquarters Program as it pertains to financial institutions offering securities services. This initiative is expected to help attract knowledge and facilitate the transfer of expertise within the securities sector. The license will be subject to the laws and regulations of the Kingdom, including the Capital Market Law and its implementing regulations, in accordance with the specific regulatory framework defined in the relevant regulations based on the scope of securities business conducted. The license will carry fewer regulatory requirements than existing licenses. The regulator also emphasized that the comments of relevant and interested persons shall be taken into full consideration for the purpose of approving the final Proposed Amendments, which in turn shall contribute to the aim of enhancing and developing the regulatory environment.
Asharq Al-Awsat
20-05-2025
- Business
- Asharq Al-Awsat
Foreign Investment Creates over 39,000 Jobs Annually in Saudi Arabia
Saudi Arabia is attracting foreign direct investment (FDI) at a pace that is generating more than 39,000 jobs each year as the Kingdom's investment climate undergoes sweeping changes. The surge has driven the issuance of over 14,000 investment licenses in 2023 up sharply from just 375 in 2017. The Kingdom has emerged as a key global investment destination, fueled by efforts to create new opportunities for both local and foreign investors, protect their rights, and offer high-quality, streamlined services. This transformation has helped boost licensing activity, drive economic growth, and encourage partnerships between global and local entities. A recent report by the National Transformation Program (NTP), part of the Vision 2030 agenda, said that 74 investment agreements and memorandums of understanding (MoUs) were signed with global and regional partners last year, supporting the creation of more than 39,000 jobs. FDI inflows in 2023 reached 96 billion riyals ($25.6 billion), while the 'Invest Saudi' platform currently offers over 1,865 investment opportunities. The NTP aims to develop the infrastructure and enabling environment for public, private, and non-profit sectors to flourish. In 2023, the Ministry of Investment signed investment deals worth more than 3.7 billion riyals with countries including Mexico, the United Kingdom, China, Kuwait, the United Arab Emirates, India, and Canada. The deals span key sectors targeted by Vision 2030 such as water treatment, culture, industry, construction, real estate, and maintenance. These agreements support the broader goals of economic diversification and sustainable growth. Moreover, the number of multinational companies that established regional headquarters in Saudi Arabia reached approximately 570 last year, up from just 44 in 2021. In a bid to empower the private sector and simplify doing business, the NTP has led a series of economic reforms in collaboration with the Ministry of Commerce and other entities. These reforms aim to increase the contribution of SMEs, support entrepreneurs and home-based businesses, and improve the overall business environment. According to the report, 186 procedural and regulatory reforms were implemented to enhance the ease of doing business in the Kingdom. The share of international investors in Saudi startups reached 28%. The report also highlighted the launch of a platform by the Ministry of Investment, designed to enhance the investor journey. The platform conducts internal and external surveys to assess service quality, gather feedback, and issue reports that help develop procedures in line with global standards. It also tracks investor satisfaction and confidence in the Saudi business landscape. Launched in June 2016, the NTP is the first of the Vision 2030 implementation programs. It aims to achieve 34 strategic objectives, representing 35% of Vision 2030's total goals, through 317 initiatives led by seven key ministries and more than 50 participating entities. Progress is tracked through 80 performance indicators.
