The role of the judiciary system in promoting investment : Saudi Arabia as an example

Abstract

The political, economic, social and legal stability of a country is one of the important factors that encourage investment in it, in addition to other factors such as the availability of appropriate infrastructure and logistical, job competencies, tax privileges, etc.

The judicial side also constitutes one of the factors that the investor takes into account, as the judicial system of the country in which he invests is expected to be fair towards him and to guarantee him his rights in the form of infringement from any party. Justice is the basis of urbanization, as the scholar Ibn Khaldun said centuries ago. If investment is the title of economic prosperity and social prosperity of countries and a measure in which they compete with each other to bring, preserve and develop them, the role of justice and judicial system in achieving prosperity and prosperity for the general group is confirmed by purifying the investment climate from corruption and achieving equal investment opportunities and defending the rights of investors and their money.

In view of the importance of investment economically, politically and socially, the Kingdom of Saudi Arabia’s vision for the year  was keen to provide legal and judicial mechanisms to encourage and develop it, by updating the legal system for investments and reviewing the jurisdiction of the judicial authorities related to it in order to activate the role of the judiciary in encouraging investment.

This research proposal on "The role of the judiciary in encouraging investment" seeks to analyze the relationship of the Saudi judiciary to investment and the extent to which recent amendments to the judicial systems are in support of its role in encouraging investment as one of the pillars of the Kingdom of Saudi Arabia 2030 vision, through a descriptive and analytical methodology, focusing on three issues:

The first issue reviews the guarantees of litigation that the Kingdom of Saudi Arabia sought to provide to the investor, which is the right to resort to justice, while ensuring ease and equality, achieving judicial independence and allocating judicial bodies for investment disputes.

The second one touches on the guarantees that the judge provides through the rulings he issues based on clear and codified laws and by adopting the latest comparative jurisprudential and judicial theories, as well as the ability to monitor judgments by defining methods and procedures for objecting to them.

As for the third issue, it raises the most prominent problems and challenges facing the investor in front of the Saudi judiciary, which mainly relates to the multiplicity of litigation bodies related to investment disputes and the consequent possibility of conflict of rulings, slow judicial procedures, and finally the difficulty in implementing some judicial rulings.

At the conclusion of this research, the researcher will seek to evaluate the effectiveness of recent legal and judicial developments related to the settlement of investment disputes in the Kingdom of Saudi Arabia, and provide a set of proposals and recommendations to raise the efficiency of the judiciary and support its role in encouraging investment.

Keywords

"Encouraging Investment", "Judicial System", "Kingdom of Saudi Arabia", "Investment Disputes"