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Saudi Arabia: Additional Benefits for Major Investors, CEOs of Local and Int’l Companies

Officials of the Saudi Aviation Group and the Ministry of Investment after signing a joint MoU (SPA)
Officials of the Saudi Aviation Group and the Ministry of Investment after signing a joint MoU (SPA)
TT
TT

Saudi Arabia: Additional Benefits for Major Investors, CEOs of Local and Int’l Companies

Officials of the Saudi Aviation Group and the Ministry of Investment after signing a joint MoU (SPA)
Officials of the Saudi Aviation Group and the Ministry of Investment after signing a joint MoU (SPA)

Saudi Arabia’s Ministry of Investment has signed a memorandum of understanding (MoU) with national carrier Saudia Group to enhance services and support for investors.

This agreement aims to promote the Kingdom as an investment destination and facilitate a conducive environment for business growth.

The MoU was signed by Khaled Tash, Saudia Group’s Chief Marketing Officer, and Mohammed Aba Hussain, Deputy of Integrated Investors Services at the Ministry of Investment.

According to the MoU, Saudia will provide the ministry’s investors with a wide range of exclusive benefits, logistics and shipping services through Saudia Cargo, as well as private aviation and personal assistance (concierge) services provided through Saudia Private Aviation Company.

Both parties will foster the bilateral cooperation in organizing the ministry’s events at the local and international levels.

“This strategic partnership between Saudia Group and the Ministry of Investment represents a significant leap forward. It promotes our position as a comprehensive aviation system dedicated to advancing and achieving the ambitious objectives of Vision 2030,” said Khaled Tash, Saudia Group’s Chief Marketing Officer.

He added: “By collaborating closely, we aim to optimize travel logistics for key national projects, facilitating seamless mobility both to and within the Kingdom while offering exclusive travel benefits.”

The deputy of Integrated Investors Services at the Ministry of Investment stressed that the signing of the “strategic partnership with Saudia Group is a significant milestone for the Ministry of Investment. It goes beyond a mere agreement, symbolizing our unwavering commitment to providing exceptional services.”

“We aim to overcome all obstacles for investors and cultivate an ideal environment for their businesses to flourish within the Kingdom. This partnership offers a comprehensive package of benefits to investors, executives, and global companies to streamline their relocation experience,” he said.

In January, Saudi Arabia announced the launch of five new categories of distinguished residencies with the aim of increasing the attraction of exceptional talent, including executives, talents, investors, entrepreneurs, and real estate owners.

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India Imposes Temporary Tariff on Some Steel to Stem Cheap Imports from China 

A worker stacks pressed steel items at a factory which produces metal products for export, in Binzhou, in China's eastern Shandong province on April 15, 2025. (AFP)
A worker stacks pressed steel items at a factory which produces metal products for export, in Binzhou, in China's eastern Shandong province on April 15, 2025. (AFP)
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India Imposes Temporary Tariff on Some Steel to Stem Cheap Imports from China 

A worker stacks pressed steel items at a factory which produces metal products for export, in Binzhou, in China's eastern Shandong province on April 15, 2025. (AFP)
A worker stacks pressed steel items at a factory which produces metal products for export, in Binzhou, in China's eastern Shandong province on April 15, 2025. (AFP)

India, the world's second-biggest producer of crude steel, on Monday imposed a 12% temporary tariff on some steel imports, locally known as a safeguard duty, to curb a surge in cheap shipments primarily from China.

A flood of Chinese steel in recent years has pushed some Indian mills to scale down operations and mull job cuts, and India is one of a number of countries to have contemplated action to stem imports to protect local industry.

The Ministry of Finance said in an official order that the duty would be effective for 200 days from Monday, "unless revoked, superseded or amended earlier".

The move is New Delhi's first big trade policy shift since US President Donald Trump imposed a wide range of tariffs on countries in April, kicking off a bitter trade war with China.

Tensions over cheap steel imports into India predate that, with the investigation behind the latest move beginning in December.

India's Steel Minister H. D. Kumaraswamy said in a statement the measure is aimed at protecting domestic steel manufacturers from the adverse impact of a surge in imports, and will ensure fair competition in the market.

"This move will provide critical relief to domestic producers, especially small and medium-scale enterprises, who have faced immense pressure from rising imports," Kumaraswamy said.

New Delhi's tariffs are primarily aimed at China, which was the second-biggest exporter of steel to India behind South Korea in 2024/25.

"The decision is along expected lines and we will now wait and see how this measure supports (the) industry and margins and restricts cheap imports into the country," said a senior executive at a leading Indian steel mill.

"The world is impacted by Chinese imports whether directly or indirectly," said the executive.

India was a net importer of finished steel for a second straight year in 2024/25, with shipments reaching a nine-year high of 9.5 million metric tons, according to provisional government data.

New Delhi's leading steelmakers' body - which counts JSW Steel and Tata Steel among members, alongside the Steel Authority of India and ArcelorMittal Nippon Steel India - has raised concerns over imports and called for curbs.