Saudi Nitaqat Programme to count foreign investors as Saudi nationals
Initiative forms part of strategy to incorporate expat categories into Saudisation ratios
Dubai: The Saudi Ministry of Human Resources and Social Development has announced a significant update to the Nitaqat Saudisation programme, now including foreign investors within its framework, treating them akin to Saudi nationals in workforce calculations.
This initiative forms part of a broader strategy to incorporate various expatriate categories into Saudization ratios, as per information from the Qiwa platform affiliated with the ministry.
Under this new regulation, foreign owners of private establishments will be regarded equally to Saudis in Saudisation metrics. Moreover, the programme extends to cover the offspring of Saudi women married to non-Saudis, non-Saudi widows of Saudi citizens, and Saudi nationals engaged in remote work.
Additionally, Gulf citizens, athletes and workers from displaced tribes will be counted as Saudi employees in Saudisation percentages.
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The Qiwa platform further specifies that certain expatriate groups, such as Palestinians holding Egyptian passports, Baluchis, and Burmese individuals (excluding those in Mecca and Medina), will be considered at a quarter rate in the Saudisation framework. This policy implies that hiring four such expatriates would be equivalent to one Saudi worker, with a ceiling of not exceeding 50 per cent of the total workforce.
In the economic domain, the Ministry of Investment has underscored a significant increase in foreign direct investment, reaching SR105 billion by the end of 2022, reflecting a 21.4 per cent surge from the preceding year. This growth underscores ongoing improvements in the kingdom’s investment climate, aligning with Vision 2030’s objective to attract global investors to key non-oil sectors and bolster the National Investment Strategy.