HR ministry proposes strict rules for advertising domestic labor services    Former Colombian president Álvaro Uribe sentenced to 12 years of house arrest for witness tampering, bribery    Collapse at Chile's El Teniente copper mine kills 1, traps 5 workers underground    Kyiv mourns as Russian attack kills 31, including 5 children, in deadliest strike in a year    Thailand returns two wounded Cambodian soldiers after ceasefire in border conflict    Saudi Arabia, Canada hold first political consultations in Ottawa    Saudi Gazette publishes full text of new foreign property ownership law The law grants non-Saudis broader real estate rights under defined conditions while imposing restrictions in Makkah and Madinah    Saudi anti-graft authority investigates 425 employees, detains 142 in July corruption cases    Saudi Arabia's real GDP grows 3.9% in Q2 2025 on broad-based economic expansion    New Murabba, Alat sign MoU to develop next-gen vertical transport for The Mukaab    Sotheby's returns Buddha jewels to India after uproar    Riyadh Film Music Festival returns with live orchestral performances of iconic movie scores    Nissan Formula E Team celebrates a landmark season 11 with proud Saudi sponsor Electromin    Qiwa sets 60-day window before reporting worker as absent under new contract rules    Saudi, Russian energy ministers discuss oil market and joint committee plans    Fahad bin Nafel steps down as Al Hilal president after historic six-year run    João Félix unveiled by Al Nassr as €50m move marks bold new chapter in Riyadh    Saudi Arabia approves first Alzheimer's treatment with lecanemab for early-stage patients    Chris Tucker, Pete Davidson and Aziz Ansari among stars set for Riyadh Comedy Festival    Al Nassr beat Benfica to €50m João Félix signing after Ronaldo, Jesus intervene    Sholay: Bollywood epic roars back to big screen after 50 years with new ending    Ministry launches online booking for slaughterhouses on eve of Eid Al-Adha    Shah Rukh Khan makes Met Gala debut in Sabyasachi    Pakistani star's Bollywood return excites fans and riles far right    Exotic Taif Roses Simulation Performed at Taif Rose Festival    Asian shares mixed Tuesday    Weather Forecast for Tuesday    Saudi Tourism Authority Participates in Arabian Travel Market Exhibition in Dubai    Minister of Industry Announces 50 Investment Opportunities Worth over SAR 96 Billion in Machinery, Equipment Sector    HRH Crown Prince Offers Condolences to Crown Prince of Kuwait on Death of Sheikh Fawaz Salman Abdullah Al-Ali Al-Malek Al-Sabah    HRH Crown Prince Congratulates Santiago Peña on Winning Presidential Election in Paraguay    SDAIA Launches 1st Phase of 'Elevate Program' to Train 1,000 Women on Data, AI    41 Saudi Citizens and 171 Others from Brotherly and Friendly Countries Arrive in Saudi Arabia from Sudan    Saudi Arabia Hosts 1st Meeting of Arab Authorities Controlling Medicines    General Directorate of Narcotics Control Foils Attempt to Smuggle over 5 Million Amphetamine Pills    NAVI Javelins Crowned as Champions of Women's Counter-Strike: Global Offensive (CS:GO) Competitions    Saudi Karate Team Wins Four Medals in World Youth League Championship    Third Edition of FIFA Forward Program Kicks off in Riyadh    Evacuated from Sudan, 187 Nationals from Several Countries Arrive in Jeddah    SPA Documents Thajjud Prayer at Prophet's Mosque in Madinah    SFDA Recommends to Test Blood Sugar at Home Two or Three Hours after Meals    SFDA Offers Various Recommendations for Safe Food Frying    SFDA Provides Five Tips for Using Home Blood Pressure Monitor    SFDA: Instant Soup Contains Large Amounts of Salt    Mawani: New shipping service to connect Jubail Commercial Port to 11 global ports    Custodian of the Two Holy Mosques Delivers Speech to Pilgrims, Citizens, Residents and Muslims around the World    Sheikh Al-Issa in Arafah's Sermon: Allaah Blessed You by Making It Easy for You to Carry out This Obligation. Thus, Ensure Following the Guidance of Your Prophet    Custodian of the Two Holy Mosques addresses citizens and all Muslims on the occasion of the Holy month of Ramadan    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Status correction campaign to benefit economy: Expert
Published in The Saudi Gazette on 07 - 11 - 2013


Saudi Gazette report
JEDDAH — Monday may have been a defining day for the large number of illegal expatriates caught up in a massive crackdown campaign in various parts of the Kingdom but the effects on the Saudi economy were minimal, a leading economist told Al-Riyadh daily.
The indicators of the campaign's success were obvious, according to Fadl Al-Buainain, as many violating commercial establishments have closed down and the streets are completely free of illegal workers.
Police cars on the street are a common sight, meaning that violating expatriates could be a thing of the past due to the meticulous plans formed for this unprecedented campaign.
Al-Buainain said anyone who claimed the campaign would have a negative knock-on effect was exaggerating.
He said more than a million expatriates left the Kingdom by their own choice because they were staying in the country illegally.
He said: "With their departure, the situation of the market did not change.
“This means that the illegal expatriates were only marginal manpower that had no effect whatsoever on the market."
Al-Buainain said the amnesty period had succeeded in correcting the status of millions of expatriates.
He said: "At present we are in a correctional period that is transitional and should not go beyond six months.
“Every establishment can fulfill its manpower needs and requirements within three months.”
Al-Buainain said the correctional period had helped many Saudis obtain jobs. “There are many investment opportunities for Saudis who should take advantage of these trade and occupational opportunities.”
He expected the big companies to direct their attentions toward Saudis because of the lack of the illegal workers.
He said the main beneficiary of the correction period is the Saudi economy, which suffers from inflation and unemployment.
“The inflation will be cured because the demand on goods and services will decrease with the exit of a large number of expatriates.
“This will lead to a reduction in prices that will benefit both citizens and legal expatriates.”
Al-Buainain said the government would greatly benefit from the departure of the illegal expatriates, who were a burden on the economy because they were taking advantage of subsidized services and goods.
He said: “Riyadh was suffering from a scarcity of water and energy because of the steady demand for these resources by the large number of foreigners.
“Through this crackdown we will now be able to save a lot of energy and water.”
The economist said there were 10 million expatriates in the labor market who prevented Saudis from getting jobs.
"The correction campaign will end this situation though about 50 percent of jobs occupied by the expatriates were not wanted by citizens," he said.
He said about SR130 billion used to be remitted abroad by expatriates.
"This large amount of money will now stay at home to benefit the Saudi economy," he said.
He expected the correction campaign to put an end to the financial crimes and money laundering committed by expatriates.
“The economy will be purged of tasattur operations (businesses run under the sole control of expatriates in exchange for a monthly fee paid to the registered Saudi owner).
“The smuggling and trafficking operations will also come to an end.”


Clic here to read the story from its source.