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FinancialNews
10-02-19
Saudi Arabia to support private companies with over USD3 B
(MENAFN) Saudi Arabia has ratified an allocation of USD3.07 billion to support projects specialized in indigenization.
The goal of the allocation is to reimbursing firms the fees for foreigners work authorizations.
The order ratified the Ministry of Labor and Social Development to launch the united bill initiative, in coordination with the Private Sector Stimulation Office.
The initiative states that enterprises coming under the ranges of Platinum, A-Green, B-Green or C-Green for 12 months, shall be repaid the collected dues, if it has been already and if not paid, it shall be excused for 2018.
MENAFN1002201900450000ID1098097117
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