Monday, March 8, 2021

Saudi Arabia’s King Salman approved a number of incentive initiatives for establishments operating in the Hajj and Umrah sectors, Saudi Press Agency (SPA) reported on Monday.

The move comes as part of the king’s keenness to mitigate the financial and economic repercussions of the coronavirus pandemic on individuals, private sector businesses and investors.

“These initiatives come as an extension of the Kingdom’s efforts to confront the financial and economic impacts on the sectors operating in the Hajj and Umrah field and the economic activities most affected by the repercussions of the pandemic,” a statement on SPA said.

The initiatives include:

1. Accommodation facilities would be exempt of annual fees for licenses for municipal commercial activities for one year in Makkah and Madinah.
2. Hajj and Umrah sector establishments will be exempt from paying the fee for employed expats for six months.
3. Licenses for accommodation facilities from the Ministry of Tourism may be renewed free of charge for one year in Makkah and Madinah, which can be extended.
4. Collection of residency renewal fees for expatriates working in activities related to the Hajj and Umrah sector will be postponed for six months, and the amounts are to be paid in installments over a period of one year.
5. The validity of licenses (application forms) for buses operating in facilities that transport pilgrims would be extended without charge for one year.
6. Collection of customs duties for new buses for this year’s Hajj season will be postponed for three months, and to be paid in installments over a period of four months starting from the due date.

The Saudi government has launched more than 150 initiatives, the allocations of which exceeded SR180 billion ($47.9 billion), with the aim of confronting the repercussions of pandemic and mitigating its effects on individuals, the private sector and investors.

Source: https://www.arabnews.com/node/1822206/saudi-arabia