Riyadh – Mubasher: Nine Saudi state-run bodies on Wednesday announced providing several incentives to listed firms in a bid to encourage unlisted companies to be listed on the Saudi Stock Exchange (Tadawul) during the Financial Sector Conference (FSC) held in Riyadh.
The Saudi Industrial Development Fund (SIDF) decided to raise financing limits granted to public-listed companies, while the ministry of municipal and rural affairs introduced a new “premium” classification in bidding for listed firms.
In addition, the Saudi Arabian General Investment Authority (SAGIA) revealed facilitating the approval process for listed companies to register foreign partners in joint ventures.
Saudi Food and Drug Authority (SFDA) also announced allocating a fast-track service at its business support centre and providing advisory services including training courses.
Moreover, the ministry of health decided to give priority of training programmes and reporting and statistical data for listed companies.
The Agricultural Development Fund (ADF) also approved raising the funding rate and credit service limits for each customer, while the General Authority for Small and Medium Enterprises (Monshaat) approved to cover the costs of the financial advisor assigned by the company eligible for listing.
The General Authority of Zakat and Tax (GAZT) announced offering a relationship manager to assist in settling any disputes related to zakat and income taxes, while the Saudi Customs has allocated quotas of the authorised economic operator (AEO) programme for listed companies.
