Saudi Gazette report

RIYADH — The Shoura Council on Tuesday issued directives to update the rules and regulations related with premium residency. The council session, presided over by its Deputy Chairman Dr. Meshaal Al-Sulami, sought the updating of the rules to collect data of those eligible for premium residency, as well as for their nomination, in addition to marketing premium residency products, including the participation of various entities such as governmental, private, or non-profit sectors.

The council also issued directives for coordination with relevant authorities to develop indicators to measure the economic, functional, and investment impacts of premium residency products and update them periodically in a comprehensive manner.

The council took this decision when tabled the annual report of the Premium Residency Center for the fiscal year 1444/1445 AH, after listening to the point of view of its Commerce and Investment Committee.

The council requested the committee to develop its operational policies and mechanisms, in a way that ensures integration between the types of premium accommodation products and their target groups on the one hand, and the national programs and strategies approved by the council on the other hand.

The council also instructed its Commerce and Investment Committee to carry out studies, in coordination with the Ministry Human Resources and Social Development, about empowering government employees, who wish to practice entrepreneurship, including granting of an entrepreneur license. It sought reviewing the necessary legislative and procedural tools issued in accordance with controls that adopt the best regional and global practices.

The council directed the committee to coordinate with the General Authority for Statistics and the Saudi Data and Artificial Intelligence Authority to develop and update their statistical data continuously and making it available in accordance with controls to support enterprises and entrepreneurs to raise their productivity. The council also instructed to communicate with Vision Realization offices and relevant authorities to develop sustainable policies and work mechanisms that enable small and medium enterprises to contribute to the supply chains of major projects and achieve the objectives of the approved national strategies.