Foreign investors will be regarded as Saudi nationals.

With Ministry approval, the Nitaqat Saudization initiative now recognizes foreign investors as Saudis.. The Saudi Gazette reported that, according to the ministry’s Qiwa platform, these individuals will be considered on par with nationals in determining Saudization percentage Under the Nitaqat program, widows of non-Kingdom residents and offspring of local women married to non-Saudis are treated as nationals. Saudi nationals who work from home will receive the same treatment as other regular local staff members.

Managing the Classification of Individuals

ome expatriates Palestinians with Egyptian passports and Baluchis, for example, will be included in the SaudizatThe platform declared that while determining the Saudization percentages, people from displaced tribes, residents of Gulf nations, and athletes or players from the area would be given the same treatment as Saudis. Qiwa explained that sion calculations at a lower percentage than the typical expatriate proportion. For Nitaqat calculations, hiring four Palestinians equals one non-Saudi worker, provided they don’t exceed half the workforce. Moreover, Burmese or Myanmar nationals, additionally, will count as 0.25 of the expatriate population in the Kingdom. However, Burmese nationals who reside in Makkah and Madinah are not subject to this rule. The Qiwa platform categorizes individuals affiliated with the ministry to treat them as Saudi Nationals when calculating Saudization percentages.

Status of Saudi Nationals work remotely or in person setting

Regardless of whether they are working remotely or in the office, we will treat Saudi nationals equally. Qiwa also clarifies that the inclusion of certain foreigners would be in a lesser proportion. This is for the Palestinians who hold Baluchis and Egyptian passports.

Economic Diversification Vision 2030

This shift aligns with Saudi Arabia’s Vision 2030 economic diversification plan, aiming to increase foreign direct investment in the Kingdom Saudi Vision 2030 aims at creating a vibrant society, thriving a strong economy, and boosting an ambitious nation. In Vision 2030, Saudi Arabia aims for a vibrant society where citizens can pursue their passions.

Examine Numbers in-depth

In the first nine months of 2023, Saudi Arabia’s investment rose by 6%, as reported by the Ministry of Investment in February. FDI funds increased to SR52.9 billion ($14.11 billion) from SR49.9 billion, credited to improved governance and transparency measures. Excluded is the SR58.1 billion Aramco transaction in 2022, where BlackRock Real Assets and Hassana Investment Co. acquired a 49% share in a new gas pipeline company.

To encourage FDI inflows, authorities have implemented considerable legal, economic, and social reforms, aiming to achieve SR83 billion by 2023The Kingdom implemented these changes in line with the objectives stated in the Vision 2030 Objectives and the National Investment Strategy. By the third quarter of 2023, the Kingdom had reached 64 percent of this goal

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