Month: September 2022

SABIC’S JOINT VENTURE IN SOUTH KOREA PLANNING TO EXPAND CAPACITY

The joint venture between Saudi Basic Industries Corporation and South Korea intends to improve production of innovative chemical goods by increasing the capacity of its factory in Ulsan. As
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DOMESTIC WORKERS CAN NOW SWITCH JOBS WITHOUT EMPLOYER’S CONSENT

According to the Directorate for Human Resources and Social Development (HRSD), Saudi Arabia would now permit domestic employees to change occupations without the permission of their employer in an
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SAUDI ARABIA’S PIF TOPS UP STAKES IN US STOCKS

In the second quarter, the sovereign wealth fund of Saudi Arabia expanded its holdings in US stocks by investing heavily in businesses involved in technology, e-commerce, retail, and finance.
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FROM THE LINE AT NEOM TO THE RED SEA PROJECT

A GLANCE INTO SAUDI GIGA PROJECTS In order to realize its Vision 2030 goal, which includes achieving the objectives of improving the quality of life for citizens, luring more
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UNCOVERING LOST HERITAGE IN THE RED SEA

A research facility will be established by the Saudi Arabian heritage committee to scour the Red Sea for submerged artefacts. In collaboration with King Abdulaziz University and the University
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RITZ-CARLTON RESERVE OPENS IN 2023

It’s anticipated that the first visitors to the Red Sea’s Ummahat Islands of Saudi Arabia would be able to check in the following year. This project is one of
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MHRSD ALLOWS JOB TRANSFER OF EXPAT EMPLOYEES IN PRIVATE FIRMS

According to media sources, the Ministry of Human Resources and Social Development (MHRSD) has begun executing the second phase of the revised procedure for the employment transfer of foreign
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INFRASTRUCTURE PROJECTS SURGE OVER $1.1TN IN THE KINGDOM

As Saudi Arabia continues to diversify its economy, the total value of property and infrastructure projects since the National Transformation Plan’s inception in 2016 has surpassed $1.1 trillion, according
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TRAVEL AND TOURISM: NEW LAWS TO BOOST INVESTMENTS

With the objective of diversifying its economy away from oil, KSA enacted a new law to encourage the growth of its tourism industry, draw more investment, and increase tourist
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KSA’S NON-OIL EXPORTS INCREASE 31% IN SECOND QUARTER

In the second quarter of 2022, Saudi Arabia’s non-oil exports, including re-exports, increased by 31% annually to 86.2 billion Saudi Riyals ($23 billion), as the country progressed towards diversifying
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