Saudi- New arbitration center hailed by leading figures

(MENAFN- Arab News) Lawyers legal arbitrators and businessmen described the decision to establish a saudi commercial arbitration center which was approved by the council of ministers in its session on monday as an important step in developing a conducive arbitration and investment climate in the kingdom.

Majid qaroob a lawyer and member of an advisory committee for arbitration at the ministry of justice as well as chairman of a rights' committee at the international union of lawyers in the middle east lauded this decision which was introduced by the ministers of justice and commerce and industry.

He considered this an important step in developing the judicial labor system in the kingdom especially in commercial cases.

Abdullah bin mahfouth a member of the jeddah chamber of commerce and industry (jcci) and representative at the csc as well as former chairman of the saudi-egyptian joint committee said that the establishment of this center is an important step for supporting saudi businessmen and investors in addition to supporting foreign investors who deal with the saudi market.