New visa fees will not deter investment in Saudi Arabia, which is easing procedures for foreign business, the commerce minister said Thursday, countering concerns by foreign critics.
Majed al-Qasabi "confirms the charges for entry visas will not affect the flow of foreign investments to the kingdom, which seeks to attract quality investment," a statement issued to AFP by his spokesman said.
Investors and business people could now get multiple entry visas for up to two years, allowing them "to repeatedly enter the kingdom as required by their interests", the statement said.
The previous maximum validity was one year.
A visa consultant earlier told AFP the one or two-year visas cost 5,000 and 8,000 riyals ($1,333 and $2,133).
Single-entry business visas are now priced at 2,000 riyals, several times higher than before, the consultant said.
Diplomats and other sources earlier told AFP the new fees, effective last month, risk deterring foreign investment needed to transform Saudi Arabia's oil-dependent economy.
Diplomats said higher fees would be a particular disincentive for small and medium-sized enterprises.
The changes do not apply to the European Union or United States, while fees for British nationals have only slightly increased, the visa consultant said.
Qasabi, the minister of commerce and investment, heads an executive committee to improve the kingdom's business environment.
He said plans by authorities to automate the granting of visas to foreign investors are in "their final stages".
This would cut the time needed to issue the entry permits, he said.
READ: Tourism Ministry to appeal Saudi Arabia's second Umrah visa charge
READ: 'Crazy' hike in Saudi visa fees could impact business ties
AFP
Fri Nov 18 2016
Muslims from all around the world walk around the Kaaba at the Grand Mosque, in the Saudi city of Mecca on June 8, 2016, during the holy month of Ramadan. / AFP PHOTO / File
Rakyat Israel desak kerajaan bawa pulang tebusan yang tinggal
Ribuan berkumpul di Tel Aviv pada Sabtu malam bagi mendesak kerajaan Israel mencapai perjanjian gencatan senjata dengan Hamas dan membawa pulang tebusan yang tinggal
Hamas keluarkan video dua tebusan Israel
Kumpulan pejuang Hamas mengedarkan video menampilkan dua tahanan Israel yang menyeru kepada Perdana Menteri Israel, Benjamin Netanyahu, untuk memenuhi perjanjian pembebasan mereka.
Israel sedia tangguh serangan ke atas Rafah
Israel bersedia menangguhkan serangan ke Rafah jika perjanjian pembebasan tahanan Hamas tercapai. Menteri Luar Israel, Israel Katz, menegaskan keutamaan pembebasan tahanan.
Restoran nasi kandar dibaling cat, polis kesan tiga lelaki
Cat merah tersebut terkena papan tanda dan pintu hadapan restoran yang mula beroperasi pada Sabtu.
Kawasan Beris Lalang terbakar lagi
Cuaca panas melampau di Kelantan menyebabkan kebakaran ladang dan semak di kawasan Beris Lalang. Penduduk dan pekebun mengalami kerugian
Ringgit dijangka diniaga dalam jajaran kecil
Ringgit Malaysia dijangka berada di sekitar 4.77 berbanding Dolar AS minggu depan, bergantung kepada keputusan FOMC dan data ekonomi AS
Bursa Malaysia dijangka diniagakan dalam jajaran kecil
Analisis terkini menunjukkan Bursa Malaysia berpotensi naik dalam jajaran kecil minggu depan, dengan pandangan positif terhadap kembalinya dana asing. Paras sokongan dan konsolidasi disebutkan.
PM tiba di Riyadh untuk hadiri mesyuarat WEF
Datuk Seri Anwar Ibrahim tiba di Riyadh bagi menghadiri Mesyuarat Khas Forum Ekonomi Sedunia. Beliau dijadual terlibat dalam dialog strategik, panel, dan pertemuan bersama pemimpin serantau
Battle Of The Reds: Legenda Liverpool masih bertenaga
Legenda Manchester United terpaksa akur dengan kekalahan kepada legenda Liverpool dengan jaringan 4-2.
Boling Padang: Farah Ain muncul juara dunia!
Farah pamer aksi luar biasa dalam penampilan sulungnya di pentas bertaraf dunia dengan kemenangan straight sets 6-2 dan 6-3.
Menteri Luar adakan lawatan rasmi ke China esok
Menteri Luar , Datuk Seri Hishammuddin Tun Hussein akan mengadakan lawatan rasmi ke China dari 1 hingga 2 April 2021.
Beware of the Fitch rating that can hurl Malaysia into a ditch
Credit rating agencies cannot be trusted, as the key navigator to steer the macro or micro economy of Malaysia, says Dr Rais.
Kaji selidik Monash: Pemimpin korporat Cina puas hati dengan PH
Dalam kaji selidik yang melibatkan 390 responden itu, 50 peratus pemimpin korporat Cina berpuas hati, diikuti pemimpin Melayu (39 peratus), dan pemimpin India (38 peratus).
MAS tawar diskaun tiket sehingga 50 peratus bermula hari ini
Syarikat penerbangan Malaysia Airlines kini menawarkan potongan diskaun bagi kadar tambang sehingga 50 peratus bermula hari ini sehingga sehingga 8 Mei depan.