Easing of expat policy to support Saudi Arabia’s industrial development

Wednesday, 25 September 2019 17:25:03 (GMT+3)   |   Istanbul
       

The authorities in Saudi Arabia have decided to temporarily waive labor fees on expatriate workers employed in the industrial sector, according to recently disclosed information. The government itself will bear the fees for five years on behalf of the licensed industrial entities starting from October 1, 2019. The fees were previously imposed in order to promote the development of the local labor market and to promote the employment of Saudis, SteelOrbis understands. Initially, the fee was set at SAR 100 ($26) for each individual and the rate was expected to rise gradually up to 2020.

The decision has been welcomed by the market and is expected to support the industrial sector which is targeted for some serious development in the coming years according to the state diversification program. “It will surely support private business, especially in steel and construction, and in infrastructure development,” a local producer mentioned.

 


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