Latest news with #SR50
Leaders
18-05-2025
- Business
- Leaders
Hail Region Seals SR8.5 Billion Investment Deals to Spur Growth
Saudi Arabia's Hail region has secured investment agreements worth SR8.5 billion ($2.27 billion) during its flagship investment forum, advancing the Kingdom's push to unlock regional growth and attract private capital. Spanning agriculture, mining, tourism, and logistics, these agreements form part of a broader SR50 billion portfolio of opportunities unveiled at the event. Vision 2030 Fuels Regional Diversification Saudi Arabia now prioritizes untapped potential in smaller regions, luring investors to diversify beyond urban hubs, which aligns with Saudi Vision 2030's goals for a resilient, inclusive economy. The Emir of Hail witnessed the launch of SR8.5 billion in partnerships between government agencies and investors to boost economic growth. Governor Prince Abdulaziz bin Saad emphasized Hail's strategic advantages, including its connectivity across five regions, fertile land, and infrastructure development. Organized under the theme 'Be Part of the Promising Future,' the forum attracted leaders like Investment Minister Khalid Al-Falih and Deputy Environment Minister Mansour Al-Mushaiti. Over 125 investment opportunities, including 14 strategic projects worth SR34.2 billion, aim to empower local businesses. Agricultural Investments Take Center Stage Al-Mushaiti hailed Hail as a prime agricultural hub, citing SR7 billion in funding from the Agricultural Development Fund. The region now contributes over 10% of Saudi Arabia's agricultural GDP. Notably, Hail launched the Middle East's largest trout salmon project, targeting a 50% import reduction and SR5 billion in sales within a decade. Furthermore, new red meat investments will raise self-sufficiency to 61%, while a poultry project expanded to SR11 billion with a recent SR4.5 billion injection. The Saudi Reef program has allocated SR800 million to support local farmers, alongside SR1.2 billion in water and environmental projects under the Saudi Green Initiative. Al-Falih highlighted Hail's SR1.44 billion in foreign investment, with 177 licenses issued to global firms. Over 100 opportunities worth SR50 billion are now on the 'Invest Saudi' platform. A new MoU between the Investment Ministry and Hail Region Development Authority will streamline sustainable growth efforts. The forum also featured nine panel sessions covering 42 investment themes, focusing on tourism, quality of life, agriculture, logistics, energy, and education. Short link : Post Views: 2
Gulf Insider
24-04-2025
- Gulf Insider
Saudi Arabia: Expats Without Official Permits Now Banned From Entering Mecca
Saudi Arabia's Directorate of Public Security has announced that expatriates without official permits are now barred from entering Mecca. Only individuals with: A Mecca-issued residency or work permit (iqama) Or an official Hajj permitwill be allowed entry into the holy city. As part of Hajj 2025 preparations, security checkpoints at all entry points to Mecca will turn back any non-compliant individuals. The move is part of broader efforts to manage the flow of pilgrims and maintain public safety during the pilgrimage season. Permits for entry must be obtained through the official 'Absher', 'Muqeem', or 'Tasreeh' digital platforms. The Ministry of Interior emphasized that no visa types, other than an approved Hajj visa, will be accepted for entry into or residence in Mecca during this period. The ministry also warned that sponsors who fail to report overstaying expatriates could face up to six months in prison and fines of SR50,000.
Gulf Business
24-04-2025
- Gulf Business
Hajj 2025: Saudi announces new SR50,000 fine, permit rule
Image credit: Getty Images The Ministry of Interior in Saudi Arabia announced on April 23 a fine of up to SR50,000 and six months of imprisonment for any sponsors who fail to report the departure of expatriate workers under their sponsorship after the expiry of their entry visas. According to a Read- The ministry also announced a similar penalty on Tuesday, April 22, for overstaying expatriates. Those who fail to leave Saudi Arabia after their entry visas expire may face a fine of up to SR50,000, imprisonment for up to six months, and deportation. Previously, the ministry had announced a maximum fine of SR100,000 for Hajj and Umrah service providers and establishments that fail to report any pilgrim who overstays their visa. Makkah Permit Rule for Expats In another announcement, Residents who hold a work permit or a residency permit (iqama) issued in Makkah, or a Hajj permit, are exempt from the ban. Expatriates without the required permits will be turned back at security checkpoints at Makkah's entry points. Purpose of the Regulation The ban aims to regulate access to Makkah during the Hajj season and ensure the smooth movement and security of pilgrims. Permits for entering Makkah during the Hajj season are issued electronically through the 'Absher Individuals' platform and the 'Muqeem' portal, in coordination with the unified digital platform for Hajj permits, 'Tasreeh'. The Ministry of Interior also reiterated its warning that it is prohibited to enter or remain in Makkah for holders of all visa types—except those arriving with a Hajj visa—starting April 29.
Saudi Gazette
23-04-2025
- Saudi Gazette
6-month jail and SR50,000 fine for sponsors who fail to report departure of overstaying expats
Saudi Gazette report RIYADH — The Ministry of Interior announced on Wednesday that a maximum imprisonment of six months and a fine of up to SR50,000 will be imposed on any sponsors, who fail to report the departure of those expatriate workers under their sponsorship, after the expiry of their entry visas. The sponsor, who is a foreigner, will be deported after serving the jail term and payment of the fine. The ministry also emphasized the importance of adhering to Saudi Arabia's official Hajj and Umrah guidelines and instructions. The ministry announced a similar penalty on Tuesday for the overstaying expatriates also. It stated that expatriates who fail to leave Saudi Arabia after the expiry of their entry visas may face a fine of up to SR50,000, imprisonment for up to six months, and deportation. The ministry had previously announced a maximum fine of SR100,000 for Hajj and Umrah service providing companies and establishments that fail to report any Hajj or Umrah pilgrim who overstayed their visas.
Arabian Business
23-04-2025
- Arabian Business
Saudi Arabia announces expat visa sponsor warning
Saudi Arabia has announced fines and deportation rules for expat sponsors over visa expiration, The Ministry of Interior stressed that a fine of up to SR50,000 ($13,300), imprisonment for up to six months, and deportation if the offender is an expatriate will be imposed on any sponsor who fails to report the departure of those they sponsored by the expiration date of the entry visa. The ministry also emphasised the importance of adhering to the Kingdom's official Hajj and Umrah guidelines and instructions.
