Saudi Arabia’s ministries of investment and of foreign affairs have launched the second phase of issuing a “Visiting Investor” business visit e-visa, to include the rest of world countries.
This service is offered to foreign investors as part of the Kingdom’s efforts to boost investment, consistent with the Saudi national transformation plan, “Vision 2030.”
In this move, the state intends to open its doors to attract foreign capital.
The Foreign Ministry, in cooperation with the Investment Ministry, had announced the launch of the first phase of the visa for investors from several European, Asian, North American, and Oceanic countries back in June.
Experts have highlighted the significance of this new step in facilitating the entry of foreign investors into the Kingdom’s local market, enabling them to attend all local events and explore opportunities in major projects.
Experts believe that the launch of the second phase of the business visitor visa issuance service opens opportunities for national companies to build alliances, seize business expansion opportunities, and create new high-quality jobs that contribute to reducing unemployment rates.
According to Mohammad Mazfer, a member of the National Commercial Committee at the Saudi Chambers of Commerce, with the launch of the second phase of the business visitor visa issuance service to include all countries worldwide, investors can now easily engage in local projects and attend major events in the Kingdom.
Moreover, Mazfer said the expansion and launch of the second phase confirm the government’s commitment to attracting foreign capital.
Mazfer emphasized that simplifying travel procedures for business people to enter Saudi Arabia opens up opportunities for investors to capitalize on the market, expand their businesses, positively impacting non-oil revenues in the national GDP, which has seen significant growth in recent times.
He noted that the Investment Ministry, in collaboration with the Foreign Ministry, has taken unprecedented steps to streamline procedures for foreign investors to access the local market, discover significant opportunities, and establish partnerships with domestic companies while expanding the activities of all parties involved.
