Saudi Arabia said on Thursday that the country has new residency programmes in an attempt to attract global skilled professionals and investment.

“The initiative aims to further drive the country’s economic transformation by creating employment opportunities and fostering knowledge transfers,” it said in a statement.

Accordingly, the five new premium programmes target professionals in healthcare, sports and real estate, amongst others.

These programmes will offer the holders opportunities to settle in Saudi Arabia, conduct business, own real estate and obtain work permits for holders and family members.

The move is part of Crown Prince Mohammed bin Salman’s Vision 2030 economic transformation plan to depend less on oil, which includes attracting billions in foreign direct investment.

Saudi Arabia has previously won hosting Expo 2030, with an eye to attract foreign talent and transform the country’s workforce.