Saudi Arabia is considering a series of incentives for the non-profit sector, including the potential exemption from expat fees, customs duties, and zakat. This announcement was made by Ahmed Al-Rajhi, Minister of Human Resources and Social Development, during a virtual meeting with leaders in the sector.
Ministerial Committee's Role in Non-Profit Incentives
A ministerial committee is currently exploring 21 incentives to boost the non-profit sector. This committee, including ministers of finance, economy and planning, commerce, and human resources, is expected to submit its recommendations by October 2024.
The Growth of Saudi Arabia's Non-Profit Sector
With over 5,000 organizations, the non-profit sector in Saudi Arabia has seen significant growth, contributing 0.87 percent to the GDP. The sector includes 4,000 societies, 400 private firms, and 530 family funds.
Addressing Challenges in the Non-Profit Sector
The Ministry of Human Resources and Social Development is committed to resolving challenges faced by the non-profit sector. Half of these issues have already been addressed, with plans to resolve the remaining challenges within a year.
Advancing Vision 2030 through Non-Profit Growth
During a meeting attended by over a thousand participants, discussions centered on overcoming obstacles and maximizing the sector's potential to align with Saudi Arabia's vision 2020
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