Saudi Arabia's legal revamp offers hope for cautious investors | Reuters

Saudi Arabia's legal revamp offers hope for cautious investors | Reuters:

Saudi Arabia’s first comprehensive bankruptcy law went into effect last month, one of many reforms to the legal system that economists say may be more important in the long run than high-profile privatizations.

Crown Prince Mohammed bin Salman’s Vision 2030 push to diversify the economy away from oil has grabbed attention for its big-ticket initiatives, such as a $500 billion business zone and a plan, now shelved, to sell part of the state oil firm.

The legal reforms have attracted less media coverage because they are highly technical, but they are extensive, ranging from new laws to the creation of courts and training of judges, and they have accelerated over the past couple of years.