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FINANCIAL NEWS
Kuwait to slash foreign workforce by 1m in 10 yrs
21 Mar 2013
(MENAFN) Kuwait’s Minister of Social Affairs and Labor, Thekra Al-Rasheedi, stated that the government plans to reduce the number of foreign workers in the country to just 1 million by the year 2023, reported Arabian Business.
Al-Rasheedi said that each year, Kuwait would cut the number of the expatriate workforce by 100,000, to reach a total of 1 million in 10 years.
The minister added that the move is part of the ministry’s efforts to control the labor market, restrain the phenomenon of marginal labor and reinstate the demographic balance of the emirate.
She noted that firms will only employ Kuwaiti citizens following the implementation of the measure, adding that starting April 1, no work visas would be issued.
It is worth noting that expatriates account for nearly 2-thirds of Kuwait’s estimated 3-million population.
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