Classification of foreign investors as Saudis approved by Ministry under the Nitaqat Saudization program

The Nitaqat Saudization programme has authorised the designation of foreign investors, or proprietors of private businesses, as Saudis by the Ministry of Human Resources and Social Development in Spain. According to the Qiwa platform connected to the ministry, this is one of the clauses governing the classification of groups of individuals who would be accorded equal treatment with Saudis when determining the percentage of Saudization, Okaz/Saudi Gazette has learned. 

According to the platform, two types of non-Saudis fall under the Nitaqat program's Saudi treatment. These consist of the son and daughter of a Saudi woman citizen who are not Saudi citizens, as well as the non-Saudi mothers and non-Saudi widows of Saudi citizens. Saudi nationals who work remotely will receive the same treatment as Saudi workers in the office.

According to the platform, while determining the degree of Saudization, labourers from displaced tribes, residents of Gulf nations, and Gulf players or sports would all be regarded equally with Saudis. 

The Qiwa made it clear that some foreigners would be taken into account when determining the amount of Saudization in a reduced proportion. These comprise Baluchis, who will be computed at a rate of 0.25 of the typical percentage of foreign workers, and Palestinians with Egyptian passports. 

According to the ministry, the new approach will help find good investment opportunities in high-priority non-oil sectors to draw in global investors and fulfil Vision 2030's requirements for pursuing the objectives of the National Investment Strategy.