Saudi Arabia Scraps Fees to Boost Global Industrial Competitiveness

Saudi authorities announced that the decision to scrap industrial fees was directed by the Crown Prince, aiming to enhance the global competitiveness of the Kingdom’s industrial sector.

Industry Minister Bandar Al-Khorayef said the scrap of industrial fees on expatriate labor will reduce operating costs, enabling factories to expand and boost non-oil exports worldwide.

The move reflects Vision 2030’s strategy to diversify the economy and stimulate investment in non-oil industries.

Policy stability and investment stimulus

He added that the scrap of industrial fees will improve policy stability, allowing investors to make long-term decisions with greater confidence.

Riyadh Chamber officials noted that sustained government support has turned industry into a key growth engine and a pillar of Vision 2030.

The measure forms part of broader reforms to strengthen Saudi-made products in global markets.