as1mz
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Saudi Arabia to Introduce Green Cards for Expats
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somebozo
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Green card system to boost economy
Published — Sunday 17 April 2016
JEDDAH: The permanent residence, or “green card”, system in the Kingdom will generate around $10 billion annually through reduced remittances and other sources, besides bringing in billions of dollars in foreign investment, say economic experts.
In an interview with Bloomberg recently, Deputy Crown Prince Mohammed bin Salman disclosed plans for issuing such cards similar to the US green card system that allows hiring more foreign workers for a fee.
The plan will abolish the existing sponsorship system for holders, who will be required to pay zakat and value-added tax, if any, besides premiums on insurance, etc. They can own property and undertake commercial, industrial and related activities.
“From information available now, it is expected that the system will generate at least $10 billion in revenues annually, although the real picture will emerge after green cards are introduced,” Mohammed Al-Anqari, economy and financial markets analyst, was quoted as saying by local media on Saturday.
The system will have many economic benefits such as revenue through the the green card fee, reducing remittances, bringing in investment and setting up of industries, he said.
“People are benefiting from green card in economically strong countries like the United States and major European countries. Such a system will also help attract scientific and medical talents to Saudi Arabia.”
Bandar Al-Naqithan, business lawyer, said the green card idea has been tried in a number of countries and will be of great help to the Kingdom. “The deputy crown prince’s announcement reflects an unprecedented openness of the Kingdom toward the world.”
There is a mutual interest between the green card giver and receiver, he said. “The holder of the card would be able to trade, establish companies and work in universities and educational hubs, and contribute to the economy.”
Al-Naqithan said that the green card holder would also bring his expertise to the Kingdom, a feature that has helped the US in a big way.
Details of ‘Green Card’ for expats coming
Published — Friday 22 April 2016
JEDDAH: Labor Minister Mufrej Al-Haqabani has said that his ministry is still waiting for details of the “Green Card” for expatriates proposed recently by Deputy Crown Prince Mohammed bin Salman.
Al-Haqabani was speaking during a press conference about Saudization in the country, a local daily reported. The report said an announcement is going to be made on coming Monday on the residency system for 11 million expatriates in the country.
Prince Mohammed had mooted the Green Card plan earlier this month during an interview with Bloomberg about the country’s measures to diversify the economy in the wake of the slump in oil prices.
Al-Haqabani also said that the government is going ahead with the Saudization of the telecommunications sector, and that expatriates could either stay and change jobs or leave the Kingdom. He said the ministry was putting in place plans with other government agencies to enforce the new directive.
“The labor market is being assessed and analyzed to make sure that there are Saudis prepared and trained to take up jobs in the telecommunications sector. Our youth have already enrolled in such training programs and are ready for work,” he said.
In a statement released after opening up the labor market forum in Riyadh on Tuesday, the minister said the ministry was analyzing various business activities according to new regulations that came into force this week.
The main aim was to ensure that there were jobs for Saudis, that would help boost the country’s economy. The plans were being implemented with the private sector, Human Resources Development Fund, Technical and Vocational Training Corporation and General Organization for Social Insurance.
Abdul Rahman Al-Zamil, chairman of the Riyadh Chamber of Commerce and Industry, said the private sector was aware of its responsibilities. “We should prioritize jobs for our children, men and women.”
“We are facing some challenges but these could be overcome through cooperation with the ministry. The government is a partner in the search for the most effective mechanisms and means to enhance employment opportunities for citizens,” he said.
Published — Sunday 17 April 2016
JEDDAH: The permanent residence, or “green card”, system in the Kingdom will generate around $10 billion annually through reduced remittances and other sources, besides bringing in billions of dollars in foreign investment, say economic experts.
In an interview with Bloomberg recently, Deputy Crown Prince Mohammed bin Salman disclosed plans for issuing such cards similar to the US green card system that allows hiring more foreign workers for a fee.
The plan will abolish the existing sponsorship system for holders, who will be required to pay zakat and value-added tax, if any, besides premiums on insurance, etc. They can own property and undertake commercial, industrial and related activities.
“From information available now, it is expected that the system will generate at least $10 billion in revenues annually, although the real picture will emerge after green cards are introduced,” Mohammed Al-Anqari, economy and financial markets analyst, was quoted as saying by local media on Saturday.
The system will have many economic benefits such as revenue through the the green card fee, reducing remittances, bringing in investment and setting up of industries, he said.
“People are benefiting from green card in economically strong countries like the United States and major European countries. Such a system will also help attract scientific and medical talents to Saudi Arabia.”
Bandar Al-Naqithan, business lawyer, said the green card idea has been tried in a number of countries and will be of great help to the Kingdom. “The deputy crown prince’s announcement reflects an unprecedented openness of the Kingdom toward the world.”
There is a mutual interest between the green card giver and receiver, he said. “The holder of the card would be able to trade, establish companies and work in universities and educational hubs, and contribute to the economy.”
Al-Naqithan said that the green card holder would also bring his expertise to the Kingdom, a feature that has helped the US in a big way.
Details of ‘Green Card’ for expats coming
Labor Minister Mufrej Al-Haqabani
Published — Friday 22 April 2016
JEDDAH: Labor Minister Mufrej Al-Haqabani has said that his ministry is still waiting for details of the “Green Card” for expatriates proposed recently by Deputy Crown Prince Mohammed bin Salman.
Al-Haqabani was speaking during a press conference about Saudization in the country, a local daily reported. The report said an announcement is going to be made on coming Monday on the residency system for 11 million expatriates in the country.
Prince Mohammed had mooted the Green Card plan earlier this month during an interview with Bloomberg about the country’s measures to diversify the economy in the wake of the slump in oil prices.
Al-Haqabani also said that the government is going ahead with the Saudization of the telecommunications sector, and that expatriates could either stay and change jobs or leave the Kingdom. He said the ministry was putting in place plans with other government agencies to enforce the new directive.
“The labor market is being assessed and analyzed to make sure that there are Saudis prepared and trained to take up jobs in the telecommunications sector. Our youth have already enrolled in such training programs and are ready for work,” he said.
In a statement released after opening up the labor market forum in Riyadh on Tuesday, the minister said the ministry was analyzing various business activities according to new regulations that came into force this week.
The main aim was to ensure that there were jobs for Saudis, that would help boost the country’s economy. The plans were being implemented with the private sector, Human Resources Development Fund, Technical and Vocational Training Corporation and General Organization for Social Insurance.
Abdul Rahman Al-Zamil, chairman of the Riyadh Chamber of Commerce and Industry, said the private sector was aware of its responsibilities. “We should prioritize jobs for our children, men and women.”
“We are facing some challenges but these could be overcome through cooperation with the ministry. The government is a partner in the search for the most effective mechanisms and means to enhance employment opportunities for citizens,” he said.
The Sandman
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Details of ‘Green Card’ for expats coming
22nd April 2016,
JEDDAH: Labor Minister Mufrej Al-Haqabani has said that his ministry is still waiting for details of the “Green Card” for expatriates proposed recently by Deputy Crown Prince Mohammed bin Salman.
Al-Haqabani was speaking during a press conference about Saudization in the country, a local daily reported. The report said an announcement is going to be made on coming Monday on the residency system for 11 million expatriates in the country.
Prince Mohammed had mooted the Green Card plan earlier this month during an interview with Bloomberg about the country’s measures to diversify the economy in the wake of the slump in oil prices.
Al-Haqabani also said that the government is going ahead with the Saudization of the telecommunications sector, and that expatriates could either stay and change jobs or leave the Kingdom. He said the ministry was putting in place plans with other government agencies to enforce the new directive.
“The labor market is being assessed and analyzed to make sure that there are Saudis prepared and trained to take up jobs in the telecommunications sector. Our youth have already enrolled in such training programs and are ready for work,” he said.
In a statement released after opening up the labor market forum in Riyadh on Tuesday, the minister said the ministry was analyzing various business activities according to new regulations that came into force this week.
The main aim was to ensure that there were jobs for Saudis, that would help boost the country’s economy. The plans were being implemented with the private sector, Human Resources Development Fund, Technical and Vocational Training Corporation and General Organization for Social Insurance.
Abdul Rahman Al-Zamil, chairman of the Riyadh Chamber of Commerce and Industry, said the private sector was aware of its responsibilities. “We should prioritize jobs for our children, men and women.”
“We are facing some challenges but these could be overcome through cooperation with the ministry. The government is a partner in the search for the most effective mechanisms and means to enhance employment opportunities for citizens,” he said.
http://www.arabnews.com/saudi-arabia/news/914001
22nd April 2016,
JEDDAH: Labor Minister Mufrej Al-Haqabani has said that his ministry is still waiting for details of the “Green Card” for expatriates proposed recently by Deputy Crown Prince Mohammed bin Salman.
Al-Haqabani was speaking during a press conference about Saudization in the country, a local daily reported. The report said an announcement is going to be made on coming Monday on the residency system for 11 million expatriates in the country.
Prince Mohammed had mooted the Green Card plan earlier this month during an interview with Bloomberg about the country’s measures to diversify the economy in the wake of the slump in oil prices.
Al-Haqabani also said that the government is going ahead with the Saudization of the telecommunications sector, and that expatriates could either stay and change jobs or leave the Kingdom. He said the ministry was putting in place plans with other government agencies to enforce the new directive.
“The labor market is being assessed and analyzed to make sure that there are Saudis prepared and trained to take up jobs in the telecommunications sector. Our youth have already enrolled in such training programs and are ready for work,” he said.
In a statement released after opening up the labor market forum in Riyadh on Tuesday, the minister said the ministry was analyzing various business activities according to new regulations that came into force this week.
The main aim was to ensure that there were jobs for Saudis, that would help boost the country’s economy. The plans were being implemented with the private sector, Human Resources Development Fund, Technical and Vocational Training Corporation and General Organization for Social Insurance.
Abdul Rahman Al-Zamil, chairman of the Riyadh Chamber of Commerce and Industry, said the private sector was aware of its responsibilities. “We should prioritize jobs for our children, men and women.”
“We are facing some challenges but these could be overcome through cooperation with the ministry. The government is a partner in the search for the most effective mechanisms and means to enhance employment opportunities for citizens,” he said.
http://www.arabnews.com/saudi-arabia/news/914001
oops
beast89
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skycraaper built in the west are engineered and design by the west. Saudis just have money to give such people. They are reflective of saudi wealth not ingenuity
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