Saudi Arabia: Kingdom Eases Visa Rules to Encourage Investment

— The Saudi Cabinet has decided to ease visa restrictions for foreign businessmen in hopes that it will encourage investment in the kingdom, particularly in the fields of desalination, power generation, oil, gas, petrochemicals, railways and telecommunications. Under the new visa guidelines, foreign businessmen will be able to obtain multiple-entry visas valid for one year without having to provide an invitation letter from a Saudi company or the chamber of commerce and industry. Saudi Arabia is seeking over $348 billion USD in foreign investment Fahd Al Sultan, secretary-general of the Council of Saudi Chambers of Commerce and Industry, said the move would make the country's investment climate more attractive and would promote foreign trade...