Saudi Cabinet approves consumer protection system, customs exemptions for electric public transport vehicles

RIYADH: Saudi Arabia’s Cabinet has approved a new consumer protection system and exempted state-owned companies from customs duties on certain electric passenger vehicles imported for public transport services.

The decisions were taken at a Cabinet meeting on Tuesday, chaired by Crown Prince Mohammed bin Salman, according to the Saudi Press Agency.

The customs exemption applies to electric passenger vehicles imported by state-owned companies for use in their own fleets and facilities, as well as by government entities involved in public transport. The measure is subject to regulations set by the Zakat, Tax and Customs Authority.

The Cabinet also approved a memorandum of understanding between the Saudi Ministry of Energy and South Korea’s Ministry of Trade, Industry and Energy for cooperation in the oil and gas sectors.