U.S. Firms Warn Saudi Arabia New Data Law Could Hit Investment - Bloomberg

The largest business lobbying group in the U.S. has warned Saudi Arabia that a new privacy and data law will raise the cost of doing business in the kingdom and complicate efforts to attract foreign investors and wean its economy off a dependence on oil sales.

Saudi Arabia in September issued a draft of its personal data protection law, known as PDPL, which in its current form prevents the transfer of personal data outside the kingdom without any individual exemptions. Companies that don’t comply face criminal sanctions, according to a letter sent by the U.S. Chamber of Commerce earlier this year and seen by Bloomberg.

source: https://www.bloomberg.com/news/articles/2022-03-16/u-s-firms-warn-saudi-arabia-new-data-law-could-hit-investment

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