The development of an advanced capital market is one of the foremost objectives of the Kingdom of Saudi Arabia’s Vision 2030 plan and the linked Financial Sector Development Program (FSDP).
Through a series of initiatives, the FSDP aims to help the next generation of exciting private companies list on Saudi Exchange in partnership with the Kingdom's Capital Market Authority and relevant governmental entities.
Special incentives have been introduced to help increase the benefits for you as a Saudi Exchange issuer, and additional steps have been taken by several government ministries to remove unnecessary regulatory or legal obstacles that prevent great companies from listing on the market.
The journey our issuers embark on at the Saudi Exchange is incredibly important to us, and we are committed to providing the necessary support to potential and existing issuers to increase their awareness of these incentives.
The table below sets out the listing incentives that have been launched to date along with the relevant government entity providing them:
|Saudi Industrial Development Fund
Increased loan limits granted to listed companies.
|Ministry of Investment
Facilitated approval process for listed companies to register foreign partners (joint ventures)
|Saudi Food & Drug Authority
Fast Track services at the Authority’s Business Support Center and advisory services including training courses on the electronic systems of the Authority.
|Ministry of Health
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|Agricultural Development Fund
Increased funding percentage, and increased credit services limits for each customer.
|Zakat, Tax and Customs Authority
Providing the listed companies the priority of applying to the Authorized Economic Operator Program.
|Ministry of Finance
Preference in business and government procurement (under competition and government procurement rule) for listed companies in the Capital Market.
|Projects Priority Office (PPO)
A fast track to overcome the government challenges that might face the listed companies.
|Ministry of Human Resources and Social Development
Inclusion of all listed companies on SAFWAH program
|Projects Support Fund
Raising the funding limits for listed companies projects in the targeted sectors (health, education and real estate development "Mega Projects")
|Saudi Authority for Industrial Cities and Technology Zones – Modon
|Wafi (Off-plan Sales or Rent Program)
Passing the approved real estate developer program. Which qualifies them to obtain:
|Tourism Development Fund
1- Financing tourism projects by up to 75% of the project value, after studying and approving the financing request.
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In addition, relevant government agencies have identified several obstacles which may prevent companies from listing on the Saudi Exchange. The table below sets out the changes introduced to remove these obstacles:
|Description Of The Obstacle That Has Been Overcome
|Limited ownership in pharmacies
The Ministry of Health has removed the restriction from its regulation that prevents pharmacies from expanding, by allowing unlimited ownership of pharmacies and partnership in an unlimited number in accordance with the conditions and provisions stipulated in the Executive Regulations of Pharmaceutical Products and Facilities Law.
|Transforming a professional corporation into another form
According to Article (17) in the Executive regulation of New Professional Corporations Law: now it is allowed for a professional company to transform into a joint stock company or any other company form mentioned in the third article of the New Professional Corporations Law according to the corporation’s law provisions except for their registration in the commercial register, and that after fulfilling the conditions and provisions stipulated in the regulations and law.
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