Saudi Arabia has just given out their Premium Residency permit or the Green card to Yusuff Ali M.A. Yusuff Ali is an Abu-Dhabi based retail tycoon who hails from India. Yusuf Ali is the chairman and managing director of Lulu Group.
Premium residency is a prestigious residency permit that allows the holders to live, work, own business and property in the Kingdom of Saudi Arabia without relying on a Sponsor.
These Premium residencies are being given under the crown prince’s Vision 2030 as it aims to diversify and strengthen the economy.
Ali is the first Indian expat to attain this, he is the chairman and managing director of the group that owns the Lulu chain of hypermarkets. He told that it is a proud and humbling moment for him.
He thanked Crown Prince Mohammad Bin Salman and the government of Saudi Arabia over this piece of gesture and said that this is an honor for the entire Indian community.
He said that these new permanent residencies shall improve Saudi Arabia’s economy as more investors and business hubs would be attracted by it. This shall for sure attract better and bigger investments in the country.
He further added that investors can now have a sense of ownership and security. They can buy property, own business and feel at home while doing business. Saudi Arabia has already improved its image of investment destination, this step shall boost investment.
The international investors were having an eye on the Saudi economy: it has grown and transformed over time. The investors want to export agricultural products from Saudi Arabia while using innovation and technology.
Yusufali MA, Chairman of #LuluSaGroup, is the first Indian to receive a Saudi Premium Residency Card.Like: Life in Saudi Arabia
Posted by Life in Saudi Arabia on Monday, March 2, 2020