SAGIA to allow foreign contractors to obtain temporary licences

March 16, 2014 4:19 am

The Saudi Arabian General Investment Authority (SAGIA) is set to introduce a new programme that will allow foreign construction and contracting companies that want to implement projects in the kingdom to apply for temporary licences, Saudi Gazette has reported. Under the planned scheme, the licenses will be valid for a maximum of three years. Furthermore, the companies will have a chance to get a permanent licence to operate in the kingdom after their temporary licence expires, provided that they have assets worth SR50m and staff a minimum of 50 people.