Jeddah, Jan 12 (Arab News): Saudi Arabia has adopted a new mechanism to grant business visas for foreign investors within 24 hours.

Foreign Ministry official Usama Nugali confirmed the move to Arab News on Sunday.

The new measure is aimed at allowing foreign investors to obtain business visas electronically within a day.

The application system for new visas for businesspeople and business delegations became effective Jan. 1.

The process for visit visas for commercial firms working in Saudi Arabia will be applied within the next few days.

The step reportedly comes in accordance with directives of the Council of Economic and Development Affairs, which has called for stimulating the investment environment in a manner to improve business performance in the private sector.

Meanwhile, the Saudi Arabian General Investment Authority (SAGIA) is opening contact with businesspeople to whom visas were issued in a step to encourage investment in the Kingdom.

SAGIA authorities aim to process requests of foreign business delegations in a two-day period instead of the previous 30 days.