Saudi Arabia Extends Foreign Labor Fee Coverage for Industrial Facilities Until 2025
Expatriate Labor
Al-Khorayef added that the decision will contribute to increasing the competitiveness of the national industry on a global level, providing more job opportunities. It also enhances the reach of Saudi non-oil exports to various global markets.
He revealed that since the state began covering financial costs in 2019, the industrial sector has grown significantly. By April 2024, the number of industrial establishments rose from 8,822 to 11,868, employment increased by 57%, and the localization rate reached 32%. He emphasized that these achievements were made possible by the substantial support from the leadership, according to the Saudi Press Agency (SPA).
Investments in Industrial Sector
The industrial sector has achieved numerous gains since the state began covering the financial fees. The total value of investments in the sector increased by 55%, from 992 billion riyals in 2019 to more than 1.542 trillion riyals by the end of last year. Non-oil exports saw a significant rise of 12%, and more than 8,000 industrial establishments benefited from the exemption during the period from 2019 until the end of 2023.
He said the Council of Ministers’ decision to extend financial support for expatriate workers until the end of 2025 will boost industrial growth, creating more jobs. Additionally, it also promotes modern work models like automation and Fourth Industrial Revolution technologies.
He confirmed that the ministry is committed to growing the sector and will collaborate with relevant parties to boost national industries’ global competitiveness and innovation. This will solidify the industrial sector as a key pillar of the national economy.
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