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LCBDDA and RUDA accompanied PM in Saudi visit

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A delegation from Lahore Central Business District Development Authority (LCBDDA) and Ravi Urban Development Authority (RUDA) joined HE the Prime Minister of Pakistan for bilateral interaction at the Saudi-Pak Investment Forum in Riyadh, Saudi Arab, to discuss investment opportunities in the housing and construction sector of Pakistan. Prominent Pakistani and Saudi businessmen and entrepreneurs stressed converting Pakistan-Saudi strategic partnership into strong business relations hoping Saudi-Pak Investment Forum will help achieve the goal. Mohammad Omer, Executive Director Commercial LCBDDA Punjab lead both the authorities on this visit and accompanied HE the Prime Minister of Pakistan at the Saudi-Pak Investment Forum to discuss real estate and construction sector business potential in Pakistan. The Investment Forum was also attended by senior representatives of the leading Saudi companies and entrepreneurs as well as Pakistani businessmen. Saudi Arabia is home to more than two mil...
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Saudi Arabia set to Abolish Kafalah System!

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  RIYADH (October 27, 2020) In a landmark move, Saudi Arabia is set to abolish the sponsorship system effective from the first half of the next year. More than one million expatriates are expected to benefit from the move, according to a report in Maaal online business daily. Saudi Ministry of Human Resources and Social Development will make the official announcement in this regard in the coming week. The historic initiative is aimed at improving the contractual relationship between expatriate workers and their employers. The sponsorship system, which has been in force for around seven decades, will be replaced by a work contract that regulates the relationship between employers and foreign workers. The current system, also known as the kafala system, ties workers to their employers, or sponsors, who are responsible for the employees’ visa and legal status. This is part of other initiatives that seek to improve the quality of life of expatriates, especially for housing and entertai...
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Saudi Crown Prince unveils Plan to make Riyadh as Ultra Mega City

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Riyadh (January 29, 2021) Riyadh aims to more than double its population and become one of the 10 richest cities in the world under ambitious plans unveiled by Crown Prince Mohammed bin Salman at the Future Investment Initiative (FII) gathering in the Saudi capital. “All of Riyadh’s features set the groundwork for job creation, economic growth, investment, and many more opportunities,’’ the Crown Prince told Matteo Renzi, former prime minister of Italy, during a panel session on the future of Riyadh. “We are therefore aiming to make Riyadh one of the 10 largest city economies in the world. Today it stands at number 40, the fortieth largest city economy worldwide. We also aim to increase its residents from 7.5 million today to around 15-20 million in 2030,’’ he added. Cities represent 85 percent of global economic activity, he said. “True growth begins in the city, whether in terms of industry, innovation, education, services, or other sectors. I have no doubt that the world economies a...
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