Saudi Arabia to offer five-year industrial licences, ministry says

Saudi Arabia to offer five-year industrial licences, ministry says

  
Riyadh, Saudi Arabia: King Abdullah Financial District. Image used for illustrative purpose

Riyadh, Saudi Arabia: King Abdullah Financial District. Image used for illustrative purpose

Getty Images

CAIRO - Saudi Arabia's ministry of industry will offer industrial licences that last five years instead of three to ensure the sustainability of the sector, Saudi state news agency (SPA) reported on Sunday.

The longer duration will come into effect when investors apply for new industrial licences or renew their existing ones, after fulfilling necessary requirements, SPA said.

(Reporting by Nayera Abdallah and Omar Fahmy; Editing by Edmund Blair) ((Nayera.Abdallah@thomsonreuters.com;))


More From Business