The Importance of Making Decisions

The decision-making process is a fine art, manifested in the folds of decrees and immortal historical positions. If the endeavors reached the level of heaven, it would erase its features as much as it could. I will not go on at length in describing the art and explaining its techniques and rules, as many writers are better suited to it.

But I will review for you one of the most important historical decisions taken by the Kingdom’s government more than fifty years ago. I am almost certain that it is comparable to the Nixon dollar, so to speak.

The Government’s Place In Legal & Business Decision-Making Process

The Saudi government’s decision to stop contracts with any foreign company that does not make the Kingdom its headquarters in the region was a courageous decision that came at an appropriate time. As for our saying that he is brave, some companies may be stubborn and refuse to choose the Kingdom as their main headquarters. On the other hand, many companies will accept the Kingdom, all of them hoping for one of the government contracts.

This has changed the standard of foreign contracts. Originally, it was a political decision that took into account mutual relations with countries friendly to Saudi Arabia, first and foremost. Now, it’s a political decision that takes into account the economic interests of the Kingdom of Saudi Arabia.

In other words, our economy is a red line. As for the timing of the decision, it is very appropriate because the world has begun to recognize the Kingdom as a major country. The Kingdom has been able to influence international decisions, host the G20 summit, and enact economic reforms that are in harmony with a high level of transparency. As the Kingdom has found success, disclosure has become one of the principles and foundations of the Saudi administration, among all of these factors.

How the Kingdom Has Affected the Business Decision-Making Process

The most beautiful thing about the Kingdom’s legislative decisions is how it has given jurisdiction to the courts of the Kingdom of Saudi Arabia. This reduces the waste of judicial expenses in the event of a dispute, God forbid.

It also reduces issues and conflicts with laws, enhancing the position of the Islamic economy in the world. It is no secret to those familiar with the fact that contracts are regulated per the provisions of Sharia.

Accordingly, the contracts of these companies will not include anything that violates this, otherwise they will be considered invalid. It will also enhance the validity of enforcement provisions and strengthen international agreements concerned with the enforcement of foreign judgments in the two countries. This in turn limits the displacement of funds and the evasion of responsibility by foreign debtors. Which will reflect positively on the legal, mediation, and arbitration sectors.

Business Decision-Making Power in Saudi Arabia

Someone might comment and say this reading is very optimistic, and the commentator should remember what Tarfa Ibn al-Abd said:

“The days will reveal to you what you were ignorant of, and the news will come to you from one whom you did not provide, and the news will come to you from the one to whom you have never sold anything, and for whom you have not set an appointment time.”

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