Based on the Commercial Companies Law No. 4 of 1974 and its amendments,

the Law on Organizing and Encouraging Industry promulgated by Royal Decree No. 1/79 and its amendments,

the Income Tax Law on Companies promulgated by Royal Decree No. 47/81 and its amendments,

the Foreign Capital Investment Law promulgated by Royal Decree No. 102/94 and its amendments,

the Mining Law promulgated by Royal Decree No. 27/2003,

Royal Decree No. 67/2003 regarding application of the Unified Customs Law of the Gulf Cooperation Council States,

Ministerial Decision No. 79/97 regarding the controls and procedures for renewing customs exemptions for raw materials and semi-finished goods necessary for industrial facilities and its amendments,

And Ministerial Decision No. 80/97 regarding the determination of controls and procedures for tax and customs exemptions for foreign investment projects and its amendments,

And in pursuance of the public interest,

It is hereby decided: