Saudi Arabia’s Cabinet has approved allowing full foreign ownership of companies in the retail and wholesale sectors in the Kingdom. Earlier, the foreign ownership limit was set at 75%. The move looks to attract both regional and international investors by easing restrictions on ownership to create more jobs and boost the Kingdom’s non-oil revenue. A list of eligibility requirements will be disclosed at a later date, but includes that the foreign company must operate in at least three markets and must have a minimum capital requirement of SAR30mn. (Argaam, Arab News)