Saudi Arabia amends professional companies, franchise laws

Saudi Arabia’s Shura Council has approved amendments to the professional companies and franchise laws, the state-run Saudi Press Agency reported.

The amendments came due to disagreements on some points between the Saudi government and Shura Council.

The 29-article professional companies law aims to develop professional companies and enable growth and competition across the Kingdom, Argaam reported.

The 26-article franchise law aims to promote commercial franchising activities in the Kingdom by establishing a regulatory framework that governs the relationship between the franchisor and the franchisee.

Earlier this month, the new franchise and procurement law was referred to the Cabinet for approval.