Saudi Arabia launched on Tuesday a package of initiatives to support investors and economic establishments operating in the Hajj and Umrah sector, which is facing a critical stage due to the coronavirus pandemic.
Prince Faisal bin Salman, Governor of Madinah Region, said that the approval of the Custodian of the Two Holy Mosques on the support initiatives for establishments operating in the Hajj and Umrah sector is an extension of efforts to help several sectors overcome the financial and economic impacts of the pandemic.
The support package comes within a series of more than 150 initiatives launched by Saudi Arabia, worth around 180 billion riyals (USD 48 billion), with the aim of mitigating the pandemic's effects on individuals, the private sector and investors.
Experts in the economies of Hajj and Umrah believe that the initiatives will greatly help the enterprises and enable them to boost their financial performance, and to develop future strategies to overcome any future obstacles.
Among the initiatives approved by the Custodian of the Two Holy Mosques is to postpone the collection of fees for residency renewal for expatriates working in the Hajj and Umrah sectors for a period of six months, provided that the amounts are paid in installments over a year.
Other incentives include the renewal of licenses of the Ministry of Tourism for a period of one year, free of charge, for accommodation facilities in Makkah and Madinah.
Deputy Minister of Hajj and Umrah Dr. Abdul Fattah Mashat told Asharq Al-Awsat that the approval of the Saudi King reflects the government’s keenness to help private sector facilities to function and preserve the stability of the national economy.
The incentive initiatives would be a catalyst for establishments operating in the Hajj and Umrah sector and contribute to expanding their businesses in the future, he added.
Mashat noted that the initiatives would greatly contribute to the success of existing partnerships between the government and the private sector, as they directly support the business environment and provide job opportunities for companies operating in the sector.
The announcement of the support package comes in parallel with the launch of the third phase of the re-opening of Umrah at the Grand Mosque to local and foreign pilgrims, amid a set of strict precautionary measures.
