In 2012, the Saudi goverment introduced a levy of 2,400 riyals ($640) a year for every foreigner whom a company employs above the number of its Saudi workers.
The minister was also optimistic that the global economy was emerging from its slump, but that one couldn’t expect a return to growth levels of 10 years ago.
A single foreign investor will be able to hold no more than 5 per cent of any listed company, while total foreign ownership of a firm will be limited to 20 per cent.