RIYADH: A Shoura Council member has called for a 20 percent tax on Saudi investments abroad, as is the case with foreign investments in the Kingdom, local media reported.
The proposed tax will generate billions of riyals in state income and contribute to the national economy by offsetting the exit of Saudi capital investments, Fahd bin Jumaa, deputy chairman of the Financial Committee at the Shoura Council, told Al-Hayat daily.
Based on the latest data released by the Arab Investment and Export Credit Guarantee Corp. (Dhaman), direct Saudi investments in foreign countries amounted to nearly SR155.3 billion ($41.4 billion) between 2003 and 2015, he said.
There were 526 Saudi projects abroad owned by 240 companies in more than 30 foreign and Arab countries, creating more than 96,000 jobs, he said, adding that this was a loss to the Saudi economy.
Tax evasion could be avoided by signing tax-evasion agreements with countries, and the proposal will help achieve the objectives of Vision 2030, he said.
According to UN Conference on Trade and Development estimates, the cost of Saudi foreign direct investment projects is close to SR155.25 billion.
China, Turkey, the UAE, Jordan, South Korea, Egypt, Lebanon, South Africa, Pakistan and the US are reportedly on the list of countries with Saudi investments.
The Saudi Basic Industries Corp. (SABIC) topped the list of Saudi companies investing abroad, implementing 81 projects with investments estimated at SR37.5 billion.
Shoura member urges 20% tax on Saudi investments abroad
Shoura member urges 20% tax on Saudi investments abroad
Smart tech aids lifesaving care for Hajj pilgrim
- After stabilization, she was equipped with a smartwatch linked to the Seha Virtual Hospital system for remote monitoring, enabling her to complete her pilgrimage safely
MAKKAH: A Moroccan pilgrim who had suffered a “severe” heart attack was admitted to King Abdullah Medical City in Makkah, where she received “urgent care supported by smartwatch technology and continuous virtual monitoring,” the Saudi Press Agency reported on Saturday.
The hospital, part of the Makkah Health Cluster, reported that the patient also suffered from chronic conditions including hypertension and diabetes.
She “underwent cardiac catheterization, during which a drug-eluting stent was placed in the left anterior descending artery,” the SPA reported.
After stabilization, she was equipped with a smartwatch linked to the Seha Virtual Hospital system for remote monitoring, enabling her to complete her pilgrimage safely.
Later, in Mina, the smartwatch detected abnormal readings as the patient experienced chest pain again, triggering an alert. The virtual care team directed her to Mina Al-Jisr Hospital, where she was evaluated and admitted for observation. Once stable, she was discharged with a treatment plan and continued virtual follow-up.
This case “illustrates the strength of Saudi Arabia’s digital health infrastructure during Hajj and reflects the Ministry of Health’s progress toward Vision 2030, prioritizing high-quality, smart healthcare for pilgrims,” the SPA wrote.
Nusuk app guides more than 35k pilgrims on Eid Al-Adha
- Available in 10 languages, the app offers more than 120 digital services to support pilgrims’ arrival and rituals
MAKKAH: The Nusuk app — developed by the Ministry of Hajj and Umrah, played a “key role” on the first day of Eid Al-Adha, helping to guide more than 35,000 Hajj pilgrims, according to the Saudi Press Agency.
The app “highlights the ministry’s commitment to using technology for smooth pilgrim movement and effective crowd management at the holy sites, reflecting integrated technical and operational services during Hajj,” the SPA wrote.
Available in 10 languages, the app offers more than 120 digital services to support pilgrims’ arrival and rituals. With direct links to 25 government agencies and 10 private sector entities, Nusuk — a part of the ministry’s digital-transformation drive in line with Vision 2030 — “has become a comprehensive platform for the pilgrim journey,” the SPA reported.
For this year’s Hajj, the ministry added more than 30 new services to the app, including Nusuk AI — a digital assistant that provides guidance and responds to pilgrims’ inquiries via voice and text in multiple languages.
Saudi crown prince urges international community to end Israeli aggression in Gaza
- Prince Mohammed made the comments during a speech to dignitaries and officials marking Eid Al-Adha in Mina
MINA: Saudi Crown Prince Mohammed bin Salman on Saturday reaffirmed “the importance of the international community’s role in ending the disastrous consequences” of Israel’s “aggression” in Gaza.
He made the comments during a speech to dignitaries and officials marking Eid Al-Adha in Mina, the Saudi Press Agency reported.
“The suffering of our brothers in Palestine continues as a result of the ongoing Israeli aggression, he said.
“We reaffirm the importance of the international community’s role in ending the disastrous consequences of this aggression, protecting innocent civilians, and working toward a new reality in which Palestine can enjoy peace in accordance with international legitimacy and relevant resolutions.”
The crown prince was speaking during a meeting with Eid Al-Adha well-wishers at the Royal Court in Mina Palace.
“God Almighty has honored this country with the service of the Two Holy Mosques and their visitors, including pilgrims, Umrah performers and other guests,” he said, emphasizing that Saudi Arabia places this sacred duty at the forefront of its priorities, harnessing all its capabilities to serve the guests of God and ensuring that they are able to perform their rituals with ease and comfort.
The crown prince reiterated the Kingdom’s commitment to fulfilling this responsibility, recognizing both the great honor and the immense trust it entails.
“We ask God Almighty to perpetuate security and stability in our country, in all Muslim countries and across the world,” he said.
“May He accept the Hajj of the pilgrims to the House of God and return them safely to their families.”
MWL chief meets Syria’s Awqaf minister
- They discussed a variety of topics of common interest
RIYADH: Dr. Mohammed bin Abdulkarim Al-Issa, secretary-general of the Muslim World League and chairman of the Organization of Muslim Scholars, met with the Syrian Arab Republic’s Minister of Awqaf Mohammad Abu Al-hair Shukri to discuss “a variety of topics of common interest,” the MWL wrote in a post on X on Saturday.
Meanwhile, Saudi Minister of Islamic Affairs, Dawah and Guidance Dr. Abdullatif Al-Alsheikh recently met with the Malaysian delegation of Islamic leaders participating in the Custodian of the Two Holy Mosques Guests Program for Hajj, Umrah, and Visit, the Saudi Press Agency reported on Saturday.
Saudi Crown Prince meets Maldivian, Mauritanian presidents to discuss partnership opportunities
- Two leaders exchanged Eid Al-Adha greetings and discussed ways to strengthen relations
MINA: Crown Prince Mohammed bin Salman met on Saturday with President Mohamed Muizzu of the Maldives at the Royal Court in Mina Palace, the Saudi Press Agency reported.
The two leaders exchanged Eid Al-Adha greetings and discussed ways to strengthen relations and expand cooperation between their countries across various fields, SPA added.
The meeting reflected ongoing efforts to bolster Saudi-Maldivian ties and explore new avenues for partnership.
A number of senior Saudi officials attended the meeting, including Prince Saud bin Mishal bin Abdulaziz, Deputy Governor of Makkah Region; Prince Abdulaziz bin Turki Al-Faisal, Minister of Sports; Prince Abdulaziz bin Saud bin Nayef, Minister of Interior; Prince Khalid bin Salman, Minister of Defense; and Prince Faisal bin Farhan, Minister of Foreign Affairs.
From the Maldivian side, the delegation included several ministers including Foreign Minister Abdulla Khaleel.
The high-level talks come as Saudi Arabia continues to deepen engagement with nations across South Asia, in line with its broader diplomatic and economic outreach initiatives.
Also on Saturday, Prince Mohammed held talks with President of Mauritania Mohamed Ould Ghazouani.
They also exchanged congratulations on the occasion of Eid Al-Adha, in addition to discussing overall relations and ways to enhance them in various fields, SPA reported.
