- KSA’s Cabinet approved revised regulations exempting industrial inputs from taxes and duties
- Exemptions cover machinery, equipment, spare parts, raw materials, and packaging materials
- Aim is to enhance competitiveness of Saudi-manufactured products in global market
- Reduction in duties will lower production costs for Saudi companies
- Programs and organizations support Saudi industries, attracting foreign investments
- Decision expected to make KSA a more cost-effective manufacturing hub
- Anticipated to attract more entrepreneurs and start-ups to establish businesses in KSA, boosting economic growth and diversification
Source: mailchi.mp
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
