Saudi Arabia Implements Mechanisms to Ensure Financial Sustainability of Riyadh’s Infrastructure Center

 Several mega projects are being implemented in the capital, Riyadh. (SPA)
Several mega projects are being implemented in the capital, Riyadh. (SPA)
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Saudi Arabia Implements Mechanisms to Ensure Financial Sustainability of Riyadh’s Infrastructure Center

 Several mega projects are being implemented in the capital, Riyadh. (SPA)
Several mega projects are being implemented in the capital, Riyadh. (SPA)

Following a decision to approve the establishment of the Center for Infrastructure Projects in Riyadh, the Saudi government has set appropriate mechanisms that guarantee the center’s financial sustainability.

According to information obtained by Asharq Al-Awsat, the Ministry of Finance, in partnership with the Government Expenditure and Projects Efficiency Authority, will study the government request for the center’s founding budget, at an amount of SAR 150 million ($40 million).

The study will include the operational and capital expenditures, the annual cash flows, and the mechanism for managing the amounts.

The government also directed the Ministry of Municipal, Rural Affairs and Housing, and the new center, to sign a joint memorandum of understanding that defines the necessary arrangements and mechanisms for the center to exercise the powers entrusted to it, and to specify the appropriate timetable for their implementation.

The Center for Infrastructure Projects undertakes the functions and powers of the Ministry of Municipal Affairs, the secretariat, and the municipalities of the region, which are related to infrastructure works and projects in the Saudi capital, including the issuance of licenses and permits and the collection of fees.

Other tasks include the temporary or permanent withdrawal, cancellation and suspension of permits, in addition to monitoring and inspecting works and taking the necessary actions in this regard.

The center’s financial resources will derive from the state’s general budget, the financial fees in exchange for the granted licenses and services, as well as fines and other resources that are approved by the Council in line with the regulations.



China Expands Visa-free Entry to More Countries in Bid to Boost Economy

Shoppers with their purchased goods walk past a popular outdoor shopping mall in Beijing, on Nov. 14, 2024. (AP Photo/Andy Wong)
Shoppers with their purchased goods walk past a popular outdoor shopping mall in Beijing, on Nov. 14, 2024. (AP Photo/Andy Wong)
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China Expands Visa-free Entry to More Countries in Bid to Boost Economy

Shoppers with their purchased goods walk past a popular outdoor shopping mall in Beijing, on Nov. 14, 2024. (AP Photo/Andy Wong)
Shoppers with their purchased goods walk past a popular outdoor shopping mall in Beijing, on Nov. 14, 2024. (AP Photo/Andy Wong)

China announced Friday that it would expand visa-free entry to citizens of nine more countries as it seeks to boost tourism and business travel to help revive a sluggish economy.
Starting Nov. 30, travelers from Bulgaria, Romania, Malta, Croatia, Montenegro, North Macedonia, Estonia, Latvia and Japan will be able to enter China for up to 30 days without a visa, Foreign Ministry spokesperson Lin Jian said.
That will bring to 38 the number of countries that have been granted visa-free access since last year. Only three countries had visa-free access previously, and theirs had been eliminated during the COVID-19 pandemic.
The permitted length of stay for visa-free entry is being increased from the previous 15 days, Lin said, and people participating in exchanges will be eligible for the first time. China has been pushing people-to-people exchange between students, academics and others to try to improve its sometimes strained relations with other countries, The Associated Press reported.
China strictly restricted entry during the pandemic and ended its restrictions much later than most other countries. It restored the previous visa-free access for citizens of Brunei and Singapore in July 2023, and then expanded visa-free entry to six more countries — France, Germany, Italy, the Netherlands, Spain and Malaysia — on Dec. 1 of last year.
The program has since been expanded in tranches. Some countries have announced visa-free entry for Chinese citizens, notably Thailand, which wants to bring back Chinese tourists.
For the three months from July through September this year, China recorded 8.2 million entries by foreigners, of which 4.9 million were visa-free, the official Xinhua News Agency said, quoting a Foreign Ministry consular official.