New residency scheme to boost Saudi economic sectors, employ more locals
Saudi Arabia’s new expatriate residency scheme “Privileged Iqama” will increase the number of jobs available to citizens and reflect positively on various economic sectors, Khalid Abalkhail, spokesperson for the Ministry of Labor and Social Development, told Al-Arabiya TV.
“The new scheme is expected to create new job opportunities for citizens, enhance local labor market and competitiveness, and allow entrance of new institutions to the market, he said.
The move also support the government efforts to boost Saudization and combat commercial concealment.
Earlier this week, the Saudi cabinet approved the “Privileged Iqama” residency scheme, which allows expatriates to live and work in the Kingdom without the need of a Saudi national as a sponsor — for the first time, Argaam reported.