Bankruptcy law is meant to support confidence and to smooth up possible new investments needed to support the long list of giga-projects and expected IPOs, Cyril Widdershoven, an economics and energy partner at Verocy, a consultancy firm advising on investment risks in the Middle East, told Zawya by email.
Saudi Arabia has embarked on an ambitious economic overhaul plan that aims to diversify the states sources of revenues and launched major projects, including the $500 billion NEOM business zone that is planned to be more than 33 times the size of New York City. (Read more here).
There was a need for a new, up-to-date bankruptcy law as international investors have been worried about the problems related to recuperating funds and…
Read the full article at: https://www.zawya.com/mena/en/story/Saudis_new_bankruptcy_law_paves_way_for_investments_in_markets_and_megaprojects-ZAWYA20180227034908/
