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The Saudi government’s decision to bear the cost of expatriates working in the industry sector for 5 years was taken to help invest in mechanization and is not intended to stay for a long period, said Minister of Industry and Mineral Resources, Bandar Al Khorayef.
When industries are incapable of becoming mechanized, the ministry works with them through supporting Saudization and finding sustainable solutions, the minister added on the sidelines of the World Economic Forum Annual Meeting in Davos, as reported by Al-Arabiya TV.
Al Khorayef also said that Saudi Arabia is witnessing the opening of around 50 to 70 new plants per month.
Elsewhere, he noted that the ministry has completed the preparation of the mining system, which is under final review by the Shura Council to be ready for investors, indicating that the ministry is working to activate applications, and a geological survey at a cost of SAR 2 billion.
The Kingdom began early January 2018 to apply new fees on foreign workers, in line with the Fiscal Balance Program launched end of 2017, according to data compiled by Argaam.
The Saudi Cabinet decided to cover the incremental cost of expatriates working in all licensed industrial facilities for 5 years, as of Oct. 1, 2019.
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