Can a foreigner own a business in Saudi Arabia?

Could you please elaborate on the question, "Can a foreigner own a business in Saudi Arabia?" I'm particularly interested in understanding the legal framework surrounding this matter. Does Saudi Arabia allow foreigners to establish and operate businesses within its borders? If so, what are the specific requirements or conditions that need to be met? Are there any restrictions or limitations placed on foreigners owning businesses in Saudi Arabia? Additionally, could you provide any insights into the general business environment in Saudi Arabia and how it might affect foreigners seeking to establish a business there? Thank you for your assistance in clarifying this matter.