Operation 300bn: New UAE industrial strategy launched
The country aims to increase the contribution of the industrial sector to Dh300 billion. The UAE on Monday launched a new industrial strategy to increase the contribution of the manufacturing sector from Dh133 billion to Dh300 billion in the national economy over the next 10 years. His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice […]
VAT applicable for services provided by artists, influencers, says Federal Tax Authority
The announcement was shared in the latest Basic Tax Information Bulletin issued by FTA. Any influencer earning more than Dh375,000 annually must pay VAT – and “freebies” count towards the total, the Federal Tax Authority reiterated Dubai: The Federal Tax Authority (FTA) said on Sunday said that supplies provided by artists and social media influencers […]
Improving the Business Environment
We will further pursue public-private partnerships, continue to facilitate the flow of private investment and improve our competitiveness. We will develop the necessary capabilities to increase the quality and reliability of our services. We will coordinate with legislative authorities to review current regulations with the aim of improving the business environment and enforcing contracts. Where […]
Saudization not to be forced on companies that move their HQs to the Kingdom: Investment Minister
DUBAI: Companies that choose to set up or relocate their headquarters in Saudi Arabia will not have Saudization forced on them, the Kingdom’s investment minister has told Arab News in the latest episode of Frankly Speaking, referring to the policy that requires companies to hire Saudi nationals on a quota basis. Investment “is the name […]
Global companies to be rewarded for setting up in KSA: Officials
RIYADH: Saudi Arabia’s decision to stop signing contracts with foreign companies from 2024 unless their regional headquarters are based here will help reduce unemployment, boost the market for local goods and services, and accelerate the Riyadh Strategy 2030 plan to attract hundreds of international companies to the Kingdom’s capital. “If a company refused to move their […]
Saudi Arabia doubles validity period for expat work visas
Saudi Arabia has extended the validity of new work visas for expatriates in private sector firms for two years instead of one year without any additional fees, the ministry of Labor and Social Development has revealed. The extension of the time limit also covers old visas, local media reported. Khalid Abalkhail, the spokesperson for the ministry, […]
Saudi Arabia to ‘improve foreign workers’ freedom’
Saudi Arabia has announced it will remove several key restrictions on foreign workers in an overhaul of the kingdom’s controversial labour policies, part of a plan to attract overseas talent and increase job market mobility. The Ministry of Human Resource and Social Development said the reforms will allow foreign workers the right to change jobs by transferring […]
Why Saudi Arabia Is Being Increasingly Seen As The Place To Be To Start A Business In The Middle East
“Did you really quit McKinsey to do this?” Alper Celen’s decision to trade his cushy job at the prestigious global management consulting firm’s Scandinavian offices for a move to Saudi Arabia to grow a startup there didn’t make much sense to his colleagues. Celen founded Saudi’s Groupon-like startup Fursaty and co-founded FoodOnClick.com’s KSA operations, bootstrapping the ventures […]
Creative Zone expands its operations to South Africa with Vusi Thembekwayo, one of Africa’s renowned entrepreneurs
Creative Zone enters into a partnership agreement with Vusi Thembekwayo, one of Africa’s most respected entrepreneurs, venture capitalist, renowned global business speaker, author, and a business magnate, with the idea of promoting global entrepreneurship and further enhancing business links between Africa and the Middle East. In this globalised and digital world of setting up a […]
Creative Zone Inks partnership with renowned sales trainer Spencer Lodge and Make It Happen University
Dubai: With the goal of assisting startups and entrepreneurs launch and grow their businesses to new heights, Dubai’s premier business setup advisory firm, Creative Zone and Make It Happen University, have joined hands. Creative Zone and Spencer Lodge – the region’s leading Sales Trainer and founder of Make It Happen University – will support startups with […]