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FINANCIAL NEWS
Saudi will not expel expatriates
05 Jul 2011
(MENAFN) Saudi Arabia’s labor ministry undersecretary for planning and development, Abdullah Al Hakkani, said that although the Kingdom planned to create jobs for Saudis under Nitaqat (ranges) initiative, it had no plans to expel foreign workers from the country, reported Emirates 24/7.
Al Hakkani added that annually, the new initiative would create around 400,000 jobs for Saudi nationals, since the private sector’s preference of expatriate labor, as it was less expensive, left more than one million Saudis without jobs.
He also said that in 2010, the funds transferred by foreigners to their countries reached around USD26 billion due to the private sector’s reliance on foreign workers.
It is worth noting that the Nitaqat program gave private sector companies four classifications excellent and green with high Saudi labor percentage, and red and yellow, with low Saudi labor percentage.
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