Riyadh – Mubasher: Saudi Customs has signed a memorandum of understanding (MoU) with the Saudi Basic Industries Corp. (SABIC) to ease export and import procedures in SABIC’s region at Al Jubail Commercial Sea Port.
Transport minister Nabeel al-Amudi, Saudi Customs’ governor Ahmad bin Al-Hakbani, SABIC’s chairman and CEO Abdulaziz Al Jarboo and Yousef Al Benyan attended the signing ceremony, according to an official statement.
This deal is expected to boost exports and imports, which in return would impact positively on the Kingdom’s economy to achieve Saudi Vision 2030, Al Jarboo stated.
SABIC last reported a 5.35% increase in profits after calculating Zakat and Tax in the third quarter of 2018, reaching SAR 6.1 billion, compared to SAR 5.79 billion during Q3-17.
The Saudi firm's profits jumped 24.23% to SAR 18.3 billion during H1-18, from SAR 14.73 billion in H1-17.
By 11:41 Saudi time, SABIC’s stock inched down 0.47% to SAR 126.60.
