Built to inform

Sign up for the daily newsletters

No, Thank you

Saudi Green Card to generate $10 bn in revenues

The system is expected to generate around $10bn annually through reduced remittances, while bringing in billions of dollars in foreign investment

NEWS, Business, Crown prince, Greencard, Property developments, Saudi

The Saudi Shura Council will take a closer look at the Saudi Green Card proposal as soon as other government bodies study it, several members of the consultative body told Arab News

Deputy Crown Prince Mohammed bin Salman announced sweeping reforms on Monday including how the new residence system would be introduced for Muslims and Arabs within the next five years as a source of revenue. 

Fahd bin Juma'a, a member of the special committee set up to discuss the Vision 2030, said the deputy crown prince was expected to hold a special meeting with committee members about the details of the new economic plan, Arab News reported.

Awad Al-Assiri, a Shura Council member, added that the plan would be discussed at the body's full sessions - in the same way other legislation is studied before being passed to the Cabinet for approval.

The system is expected to generate around $10bn annually through reduced remittances, while bringing in billions of dollars in foreign investment.

Most popular

Awards

Deadline approaches for CW Oman Awards 2020 in Muscat
You have until 20 January to submit your nominations for the ninth edition of the

Conferences

CW In Focus | Inside the Leaders in KSA Awards 2019 in Riyadh
Meet the winners in all 10 categories and learn more about Vision 2030 in this
CW In Focus | Leaders in Construction Summit UAE 2019
A roundup of Construction Week's annual summit that was held in Dubai this September

Latest Issue

Construction Week - Issue 764
May 31, 2020