Custodian of the Two Holy Mosques chairs Cabinet's session 4

SPA - The Cabinet authorized the Ministry of Labor to take advantage of recommendation No. 198 issued by the General Conference of the
International Labor Organization in its 95th session in Geneva in
June 2006 which regulates the employment relationship between
employer and employee.

The Cabinet approved the annual report of Saudi Arabian Mining
Company (Maaden), its financial statements and the audit report for
the fiscal year ending on 31/12/2007.
Having considered the recommendation of the Standing Committee of the
Supreme Economic Council (No. 38 / 29) dated 27/5/1429H, the Cabinet
decided to grant investors tax incentives in some parts of the
Kingdom through a number of measures including:
-Granting projects to be established in areas of Hail, the Northern
Borders, Jazan, Najran, Al-Baha and Al-Joaf tax discount amounting to
50% of the costs of the annual training of Saudis and another tax
discount rate of 50% of annual wages paid to Saudis.
-The advantages shall be applied according as follows:
-The amount of capital invested in the project shall not be less than
one million Saudi riyals.
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