Prince Alwaleed Strongly Commends Saudi Ministry Council Decision in Regards to Saudization
Prince Alwaleed:"The SR200 monthly fee on business owners employing less than 50% Saudis is a small amount to pay for the benefit of their country"
Prince Alwaleed: "The private sector should comply with the government’s drive for Saudization”
HRH Prince Alwaleed Bin Talal Bin Abdulaziz Al Saud, Chairman of Kingdom Holding Company (KHC) and Chairman of the Board of Alwaleed Bin Talal Foundation, commended the Council of Ministers decision regarding the Saudi government’s new policy imposing a fee on private companies employing more foreign workers than Saudis. HRH praised the Council of Ministers and the Minister of Labour, H.E Eng. Adel Bin Mohammed Fakeih’s efforts to employ a large number of Saudi nationals in the private sector and to develop Saudi human resources in the Kingdom of Saudi Arabia.
The Ministry of Labor’s decision is in line with the Saudi employment strategy, issued under bill # (260) dated 27 July 2009 corresponding to 8-5-1430 H. HRH noted that Saudi Arabia is one of the few countries globally that has not applied fees on foreign labor despite this law being applied in countries around the world. Furthermore, these regulations and fees create a balance in the labor market and decrease the unemployment rate. The total amount of expatriate money transfers outside the Kingdom of Saudi Arabia is around 100 Billion riyals annually. The Foreign labor population percentage in Saudi Arabia is considered to be the third highest in the world.
HRH also stated that there should be a national vision in regards to having an effective law, fees and limitations for companies. This in turn will create a competitive marketplace for companies in Saudi Arabia because the labor cost will be relatively higher for companies that have less than 50% Saudization which, in return, will positively benefit citizens. The Ministry of Labor’s strategy aims at lowering its dependence on foreign labor in Saudi Arabia which will benefit the country.
Prince Alwaleed Commented: "The SR200 monthly fee on business owners employing less than 50% Saudis is a very small amount to pay by them for the benefit of their country, any company or organization that wants to avoid paying those fees can do so by employing 50% Saudis." HRH added: "As for contractors and maintenance companies, it is time for them to contribute a very small part of their profits to our beloved Kingdom, especially companies that have direct long-term contracts and tender. Even if cost will rise, the private sector should comply with the government’s drive for Saudization."
It is not the first time that HRH supported this initiative, as Alwaleed Bin Talal Foundation and Rotana Media Group were chosen by the Ministry of Labour (MOL) as media partners in this campaign, and to do their part to effectively execute King Abdullah Bin Abdulaziz’s vision to improve, develop, and benefit the women and men of Saudi Arabia.
The SR10M campaign ran on three Rotana Channels: Rotana Khalijia, Rotana Cinema and Fox Movies. The Awareness TV Campaign supporting MOL's is aligned with Alwaleed Foundation’s long term commitment to solving the unemployment issue. In line with the Saudi governments’ initiative towards Saudization and improving the employment rate for its citizens, Kingdom Holding Company (KHC), currently has 93% Saudi employees.
The Awareness Campaign is a complimentary program to the MOL's aggressive efforts to increase Saudi employment which commenced with the Nitakat and Hafez schemes,as well as the new Tawteen and Ta'neeth programs.
MOL plans to announce more innovative initiatives to address more of the major unemployment issues and obstacles facing Saudi Society.
The Campaign was aimed at transforming the mindsets of the audience through highlighting some of the causes of unemployment in Saudi society in its messages, such as the lack of trust in female employees ability to join the private sector, corporations not tapping into or recognizing Saudi talent, the stigma attached to blue color jobs, the lack of investment in the Saudi work force or training programs; as well as, the Saudi Youth's lack of trust in their ability to climb up the corporate ladder.
Prince Alwaleed and Princess Ameerah, Vice Chairwoman and Secretary General of Alwaleed Bin Talal Foundation, received Eng. Adel Mohammed Fakeih. During the meeting, Alwaleed Foundation and MOL reached an agreement to launch "Kingdom of Saudi Arabia Unemployment Awareness TV Campaign." The meeting was attended by Dr. Walid Arab Hashem, Vice Chairman of Rotana Group, Mr. Fahad Alsukait, CEO- Rotana Group and CEO of Alarab Channel that is personally owned by Prince Alwaleed, Ms. Heba Fatani, Senior Executive Manger Corporate Communications Department and Dr. Nahla Nasser Alanbar, Private Executive Assistant to HRH the chairman.
In 2008, the late Minister of Labour HE. Dr. Ghazi Algosaibi visited Kingdom Holding Company and commended Prince Alwaleed and KHC for continuously incorporating, developing and hiring Saudi nationals.