The Hon. Dan Tehan, HE Khalid Al Mudaifer, Shihana Alazzaz, and Y.S. (Steve) Lee at #FII5

The discussion highlighted the importance of laws that work effectively on the ground to attract and retain foreign investment, particularly in the mining sector in Saudi Arabia. It emphasized the need for a competitive, transparent, predictable, and non-discriminatory legal framework. The panelists stressed the significance of laws that promote certainty, predictability, and protection of investments, while also acknowledging the resistance that may arise from domestic interests and international pressures. The implementation of effective laws was emphasized as crucial, with a focus on regulatory design, compliance, and strong political leadership. The panelists also discussed the global perspective of foreign investment, with a focus on successful legal implementations in countries like China and Vietnam. Overall, the discussion provided comprehensive insights into the essential role of legal modernization in fostering foreign investment and the need for laws that work effectively on the ground.