The Development of Saudi Commercial Laws and Their Role in Supporting Economic Diversification and Realizing the Kingdom's Vision 2030

Abstract

This thesis examines the development of Saudi commercial laws—including the accelerated development of Commercial Companies Law, Bankruptcy Law, commercial contracts, banking operations, bills of exchange, and the Chambers of Commerce law—and their role in supporting economic development to realize the Kingdom's Vision 2030. The thesis is structured in three sections, utilizes an inductive methodology, and presents several significant findings, including:

1. 1. The development of commercial laws is crucial for implementing a universal law that aligns with the principles of Islamic Sharia, supporting the economy, and achieving the vision's objectives.


2. The developed commercial laws, both substantive and procedural, align with the most recent commercial laws followed worldwide.


3. The developed commercial laws have produced results, including promoting economic growth and diversification, encouraging investment, and enhancing contract enforcement.

The thesis concludes with a recommendation: The Kingdom of Saudi Arabia should continue its diligent legislative work by developing the remaining commercial-related laws in compliance with the most recent international standards to complete the legislative framework that promotes investment and the economy.