https://arab.news/8kb3s
RIYADH: The Saudi Export Development Authority has launched a new service, “Exemption for Export,” aimed at enhancing Saudi Arabia’s industrial competitiveness.
The initiative, developed in collaboration with the Ministry of Industry and Mineral Resources, allows industrial companies to benefit from customs duty exemptions on inputs used for the production of export goods, aligning with the Kingdom’s Vision 2030 goal of diversifying the economy and boosting non-oil exports.
The service, which applies to industrial inputs such as labor, raw materials, fuel, equipment, and buildings, is designed to provide a competitive advantage to Saudi manufacturers by reducing costs associated with exports.
To qualify, companies must hold a valid industrial license and submit a request for exemption for materials listed under the Ministry of Industry and Mineral Resources’ approved industrial capacities. Additionally, the materials must match those specified in the company’s industrial license.
Eligibility for the exemption is also determined by a company’s export performance over the past 12 months. Once approved, the process is quick and efficient, with exemption requests typically processed within five business days.
Companies can access the service via the “Sina’ai” platform, provided by the Ministry of Industry and Mineral Resources, where they can apply for the customs exemption under the export category.
This new service addresses key challenges faced by Saudi Arabia’s industrial sector, streamlining the export process and encouraging businesses to expand their reach to international markets.
According to the Saudi Export Development Authority, the initiative is in line with efforts to support exporters and help achieve Saudi Vision 2030 objectives.
“This initiative aims to diversify the Kingdom’s income sources, strengthen non-oil exports, and foster sustainable growth by offering innovative solutions that meet the needs of exporters and promote the competitiveness of national industries,” the statement said.
The Kingdom’s ongoing push for economic diversification, under Vision 2030, has led to significant investments in non-oil sectors. Enhancing the industrial sector's global competitiveness is a cornerstone of this vision, and non-oil exports have steadily increased in recent years.
The Saudi Export Development Authority, in partnership with the Ministry of Industry and Mineral Resources, has introduced several initiatives to facilitate the expansion of Saudi-made products in international markets.
Key programs include the National Industrial Development and Logistics Program, which focuses on improving infrastructure, streamlining customs procedures, and providing export incentives.
By removing financial and logistical barriers, Saudi Arabia aims to position itself as a global trade hub, driving sustainable growth in key sectors such as manufacturing, petrochemicals, and construction materials.