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Saudi Arabia to amend conditions regarding nationalization

Published on January 2, 2014 at 11:01

Saudi Arabia to amend conditions regarding na


Riyadh: Saudi Arabia has decided to amend conditions regarding nationalization of their country. The intention of this amendment is to increase the rate of nationalization process. As a part of this, they are thinking to categorize business establishments as low class, middle class, high class and super class with respect to their performance. For this purpose they have decided to collect details of such business establishments and forward for opinions among the public.

As per the view points of Saudi Government, this nationalization process carried out till this time was a successful event. Their intention to modify the basic conditions of nationalization is to provide more opportunities to the Saudi Arabians. According to them, the number of Saudi nationals working in private sectors is considerably increased for the last two years. Now the government is thinking to appoint Saudi nationals in ten sectors which have to deal the matters of other Saudi Arabians. The authorities are also thinking to impose similar categorization on sectors related to construction, contracting, maintenance, retail as well as wholesale business establishments.

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