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RIYADH: Foreign investors may soon be able to buy Saudi stocks without restrictions, under a draft plan aimed at boosting liquidity and expanding the Kingdom’s $3 trillion equity market. 

The proposal, now out for a 30-day consultation, would allow all categories of non-resident investors to purchase shares directly on the Tadawul Main Market.

It would dismantle the Qualified Foreign Investor framework and scrap swap agreements, long seen as barriers to international participation, according to an official release.

Gulf markets such as Dubai, Abu Dhabi, and Qatar, as well as Kuwait, Bahrain, and Oman, already allow foreign investors to buy shares directly, boosting liquidity, attracting global capital, and modernizing their exchanges. 

Foreign ownership in Saudi equities has already climbed sharply, exceeding SR528 billion ($141 billion) by the second quarter of 2025, Capital Market Authority data shows. If approved, the changes would mark the most significant market opening since direct foreign access was first introduced in 2015. 

“The draft aims to broaden and diversify the base of investors eligible to participate in the Main Market, while also attracting additional investments and increasing market liquidity,” the CMA said. 

The consultation runs until Oct. 31, with final rules to follow after feedback is reviewed. 

Once approved, foreign investors would be able to purchase shares in listed companies on the main market directly, without going through these extra layers. Non-resident investors would be able to open accounts and invest directly in listed securities. 

������Ƶ’s move fits into a broader program of capital-market modernization aimed at boosting liquidity and global participation. 

In July, the CMA eased rules for foreign investors to open accounts, while amendments to investment fund regulations aligned the market more closely with global standards. 

The latest draft follows a late-September policy signal that fueled a rally in Saudi equities and comes as officials weigh lifting the long-standing 49 percent cap on foreign ownership. 

The CMA pointed to strong growth in overseas participation as a foundation for the change. 

The regulator framed the draft as part of a phased approach to position Riyadh as an international marketplace capable of attracting larger, more diverse flows of foreign capital. 

The initiative, it said, is intended to strengthen confidence among market participants and support the broader local economy. 

Stakeholders can submit comments through the Unified Electronic Platform for Consulting the Public and Government Entities or via a prescribed email form. The CMA said it will review all relevant submissions before finalizing the amendments. 

RIYADH: As ������Ƶ accelerates its transformation under Vision 2030, the beauty industry is not only keeping pace — it is helping to lead the charge. 

At the forefront of this dynamic is ��’O���𲹱�, whose latest socio-economic impact study, conducted by Asteres, reveals a commitment to shaping the future of beauty.

Speaking on the sidelines of the report’s release, Vismay Sharma, President of ��’O���𲹱�’s South Asia Pacific, Middle East and North Africa division, shared how ������Ƶ is fast becoming a global epicenter for beauty innovation, digital transformation, and youth empowerment.

“������Ƶ is one of the fastest growing and most dynamic beauty markets worldwide. ��’O���𲹱� views the Kingdom as a cornerstone of our future, a $2 billion market with immense growth potential,” said Vismay.

With 99 percent internet penetration and 134 percent mobile connectivity, ������Ƶ stands among the most digitally connected societies in the world. This connectivity is revolutionizing the consumer landscape, making multichannel retail and beauty tech standard practice rather than futuristic fantasy.

“A typical Saudi woman uses nine makeup products every day — more than the average of seven in Europe,” Vismay noted. “Saudi consumers are digitally-savvy and highly connected, and this is driving growth in social commerce and interest in beauty tech.”

From artificial intelligence-powered hair diagnostics to augmented reality virtual try-ons, ��’O���𲹱� is embedding cutting-edge tech into everyday routines. The Lancome ������Ƶ website already offers such immersive experiences, allowing customers to find their ideal foundation, lipstick or mascara with just a click.

“Three-quarters of Saudi consumers buy beauty products both online and offline, reflecting this ‘omnichannel’ shopping trend,” said Vismay. “We partner with leading e-commerce players to create outstanding experiences.”

With nearly 50 percent of the population under the age of 30, ������Ƶ’s youth are not only the largest consumer segment but also the future workforce of the beauty industry.

“Gen Z consumers are redefining cultural shifts and consumption trends, demanding personalized, digital-first experiences,” said Vismay.

Campaigns like Garnier’s “Ramadaniyat,” a culturally relevant talk show that engaged young Saudis during Ramadan, exemplify how ��’O���𲹱� is speaking the language of the next generation. On the workforce side, the ��’O���𲹱� Professional Hairdressing Academy has already trained over 100 Saudi women, with an ambitious goal of 1,000 graduates by 2029.

��’O���𲹱�’s influence is not only economic, but social. The group’s initiatives have reached over 35,000 individuals, with programs supporting women’s empowerment, education, upskilling and entrepreneurship.

“We’re incredibly proud that to date, over 100 Saudi women have already graduated from five academies across the Kingdom,” Vismay shared. 

“These programs directly support Saudi Vision 2030’s goal of increasing female workforce participation,” he added.

The Kingdom is not just a market — it is a testing ground for global innovation.
“Driven by Vision 2030 and events like LEAP, ������Ƶ is a leading incubator for tech innovation. For ��’O���𲹱�, we see the Kingdom as a gateway to scale beauty innovation,” said Vismay.

��’O���𲹱�’s presence at LEAP 2025, where it was the only beauty company exhibiting over 20 AI-driven innovations, underscored ������Ƶ’s role as a launchpad for beauty tech across emerging markets.

“Our journey in the Kingdom is grounded in our belief that business performance and positive impact must go hand-in-hand,” said Laurent Duffier, managing director of ��’O���𲹱� Middle East and ��’O���𲹱� ������Ƶ.

As ������Ƶ continues to reimagine its future, ��’O���𲹱�’s presence offers a compelling model for how the beauty industry can drive economic inclusion, social progress, and sustainable innovation — from the Kingdom and far beyond.