2001 News Story

SEC passes resolution to cut Customs Fees

Deputy Prime Minister and Commander of the National Guard Crown Prince Abdullah bin Abdulaziz today chaired a meeting of the Supreme Economic Council (SEC) and urged continuation of economic reforms in order to attract more investment, support growth and provide job opportunities for Saudi citizens. The Council accordingly resolved to cut customs fees for imported goods from 12 to 5 percent. It also approved the system of telecommunications and regulations for the Saudi Telecommunications Company, including the status of employees who were transferred to the STC from the Ministry of Posts, Telegraphs and Telephones.