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FINANCIAL NEWS
30% of SMEs may shut operations in Saudi in 2012: Experts
18 Mar 2012
(MENAFN) Economic advisers in Saudi Arabia warned that around thirty percent of small and medium enterprises (SMEs) would not survive in the Saudi market in the current year due to the restrictions imposed by the Saudization program, Nitaqat, reported Arab News.
Some economic experts say that Saudization should be planned based on creating new job opportunities for Saudis rather than on replacing current expats.
It is worth mentioning that Saudi Arabia currently hosts over 550,000 SMEs which recruit 82 percent of the total workforce in the Kingdom.
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