The House of Representatives will continue in its morning session tomorrow, Sunday, headed by Parliament Speaker Ahmed Al-Safadi, to discuss the draft law amending the Companies Law for the year 2022.

The parliament had approved a number of articles of the draft law as it came from the Parliamentary Economy and Investment Committee, after an extensive discussion of the articles by the deputies.

The reasons for the draft law amending the Companies Law came to facilitate and simplify the procedures related to the conduct of corporate business in a way that reduces time and saves effort and costs for companies and shareholders in companies, contributes to enhancing the competitiveness of the business environment in the Kingdom, and stimulates the registration of companies and foreign investments.

The positive reasons also included ensuring the stability of legislation related to venture capital companies, and giving suspended and inactive companies the opportunity to rectify their positions in accordance with the provisions of this law.