The Royal Decree approves reimbursement initiative worth SR1.5 billion to stimulate entities that comply with nationalization plan The Royal Decree approves reimbursement initiative worth SR1.5 billion to stimulate entities that comply with nationalization plan
Date Last Update 10 Feb 2019
Beneficiaries Labor Sector .
Sector Establishments . Individuals .

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The Royal Decree approves reimbursement initiative worth SR1.5 billion to stimulate entities that comply with nationalization plan

The Ministry of Labor and Social Development said on Saturday that the Royal Decree has approved the reimbursement initiative that allows entities to claim payments for expatriate work permit Levy. In cooperation with the Privet Sector Stimulation Office, the initiative aims to support entities that have complied with the nationalization plan in recruiting Saudi nationals. Entities that have been in the platinum, high green, medium green and low green categories of the Nitaqat Program for the last 12 months can claim payments if they had already paid for work permit levy of foreign workforce in 2018. Under the decision, they also get waived if their expatriate workers have not been already levied. H.E. Minister of Commerce and Investment Dr. Majid Al-Qasabi, chairman of supervisory committee for the private sector stimulation plan, extended his thanks to Custodian of the Two Holy Mosques King Salam bin Abdulaziz Al Saud- May Allah protect him- for approving the reimbursement initiative, a move that is in a bid to motivate the private sector to carry out its role in enhancing development. Meanwhile, H.E. Minister of Labor and Social Development Eng. Ahmed bin Suleiman al-Rajhi, extended his profuse thanks to Custodian of the Two Holy Mosques King Salam bin Abdulaziz Al Saud- May Allah protect him- for approving the reimbursement initiative, highlighting that the initiative would support entities in achieving their objectives and growth, as well as hiring more Saudi men and women. Those in the yellow and red categories can benefit from the initiative if they raise average number of Saudi nationals within 12 months from the issuance date of the initiative. The new decision has allocated SR1.5 billion out of SR200 billion for reimbursement as part of the private sector stimulation plan that motivate entities in the Saudi labor market.

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