- Fee waiver boosts Saudi Arabia’s industrial GDP by 14.7% and stimulates non-oil exports
- Foreign investment in the industrial sector surges, with 71.5% more foreign-owned facilities since 2019
Saudi Arabia’s decision to waive fees for foreign workers in the industrial sector in August 2019 has contributed to a 14.7% increase in the country’s gross domestic product (GDP), from SR392 billion ($104.5 billion) in 2019 to SR592 billion in 2023, according to a report from the Federation of Saudi Chambers’ Economic Studies Centre. The policy has also bolstered the Kingdom’s non-oil exports, which have risen by 12% to over SR208 billion since 2019.
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