The Saudi Ministry of Labor and Social Development issued 1.2 million work visas in 2019, compared to 600,000 visas in 2018, Al-Eqtisadiah newspaper reported, citing minister Ahmed Al-Rajhi.
This remarkable increase shows that the Saudi market has attracted new investors and entrepreneurs in 2019.
“Small and medium-sized enterprises (SMEs) had earlier faced challenges with routine procedures of commercial registration and issuance of work visas. Now, it has become easier for these companies to complete incorporation and financing requirements in a short time,” Al-Rajhi said.
The ministry is also cooperating with the private sector to overcome citizens’ job dropouts amid low income.
“To this extent, several agreements were signed with the private sector to provide 590,000 jobs, 175,000 of which were localized this year,” the labor minister added.
Meanwhile, nearly 700,000 new jobs, such as freelancing, are available, but they need to be regulated. Accordingly, a government entity was established and a related portal was also launched to regulate freelance work.
As many as 15,000 work permits were issued to freelancers across the Kingdom, the minister concluded.
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