Saudi Arabia launches new residency plans to draw foreign talent

Saudi Arabia on Thursday launched new residency programs aimed at attracting skilled professionals and investment as the Gulf country forges ahead with its plan to pivot its economy away from fossil fuels. "The initiative aims to further drive the country's economic transformation by creating employment opportunities and fostering knowledge transfers," it said in a statement. They will offer holders opportunities to settle in Saudi Arabia, conduct business, own real estate and obtain work permits for holders and family members.