Riyadh: The Cabinet, chaired by His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister, has approved the cancellation of the expat levy on foreign workers in licensed industrial establishments. This decision was based on the recommendation of the Council of Economic and Development Affairs.
According to Saudi Press Agency, the decision reflects the continued support and empowerment the industrial sector receives from the Kingdom's leadership. It underscores HRH the Crown Prince's commitment to enabling national factories, strengthening their sustainability, and enhancing their global competitiveness. This move is part of the Kingdom's ambitious vision to build a competitive and resilient industrial economy.
The cancellation of the levy is seen as a significant step towards recognizing industry as a cornerstone of national economic diversification under Saudi Vision 2030. The initiative aims to boost the industrial sector's contribution to the national economy, fostering an environment conducive to growth and innovation.