Foreign firms have to hire Saudis in leadership positions

TRAINING: Foreign companies will have to train not less than 30 percent of their Saudi employees every year. (Courtesy photo)
Updated 03 July 2016
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Foreign firms have to hire Saudis in leadership positions

MAKKAH: Foreign companies intending to invest in wholesale and retail enterprises in the Kingdom will have to recruit Saudis for leadership positions as a precondition for receiving licenses.
These companies will have to maintain the ratio decided by the Ministry of Labor and Social Development, according to an online newspaper.
For leadership jobs for Saudis, according to conditions announced earlier this week, companies will have to create a plan and implement it for the first five years, and ensure that they will continue to implement it. These companies will have to train not less than 30 percent of their Saudi employees every year.
These companies will also have to distribute products, 30 percent of which have to be Saudi made. It has also been made mandatory to allocate at least 5 percent of their total sales for research and development within the Kingdom. But from this condition, companies with less than SR300 million investment have been kept exempted.
The general authority for investment can give exemptions as per the rules and general standards without any discrimination. It will also review that all terms and conditions are fully implemented, and the outcome of their implementation over a period of five years.
These measures are understood to have been taken to ensure employment of Saudis in senior management positions in the private sector. The government is strongly pushing to deal with the high unemployment rate among citizens.
Recently the entire communication sector, particularly mobile phone sales and maintenance, was Saudized. The program is being implemented in different phases and local manpower is also being trained.


Saudi Arabia ‘racing into the future’ with Formula E

Updated 15 December 2018
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Saudi Arabia ‘racing into the future’ with Formula E

  • A first for Saudi Arabia and the region, the event’s magnitude reflects the Kingdom’s goal of hosting major events and promoting them domestically and globally
  • “This is unprecedented and fabulous,” one concert-goer said. Another said: “I can’t believe I’m in Saudi Arabia.” 

RIYADH: Formula E is one for the books. Attracting fans from all over the world, the mega event — held in the historic Saudi town of Ad Diriyah, a UNESCO World Heritage Site — is set to revolutionize motorsports by using only electric race cars. 

Officially known as the ABB FIA Formula E Championship, the race expects to draw 40,000 attendees, with access not only to the race but also to the Kingdom’s largest ever festival for music, entertainment and cultural activities.

A first for Saudi Arabia and the region, the event’s magnitude reflects the Kingdom’s goal of hosting major events and promoting them domestically and globally.

A milestone was marked as Bandar Alesayi and Ahmed bin Khanen became the first Saudi I-Pace eTrophy racers, sponsored by the General Sports Authority (GSA). 

Both drivers predict increased grassroots support in the Kingdom for youths to train in carting and race-car driving.  

At 1.76 miles long with 21 corners, the track is somewhat tricky for first-time Formula E drivers.

“The system is like Mario Bros when they get the little star and go faster,” said Formula E founder and CEO Alejandro Agag. The new electric circuit in Saudi Arabia has been hailed as one of the best Formula E tracks.

The three-day event is hosting some of the world’s top singers, including Jason Derulo, Enrique Iglesias, Amr Diab, Black Eyed Peas, David Guetta and One Republic, along with DJ EJ. 

“This is unprecedented and fabulous,” one concert-goer said. Another said: “I can’t believe I’m in Saudi Arabia.” 

Outside the venue, Al-Bujairy, one of Ad Diriyah’s historic areas, hosts high-end restaurants, cafes and local designer outlets overlooking the historic district of At-Turaif, which was once home to the Saudi royal family and has newly opened for visitors.

Another area of interest is the Family Zone, with many events and activities to entertain all age groups. Men, women and children are given different driving experiences.

In Ad Diriyah’s Formula E, only one car is allowed per driver instead of two, making pit stops more crucial in terms of timing.  

“Attack mode” gives cars a temporary power boost from 200 to 225 kilowatts, equivalent to 268-302 horsepower. Drivers need to move to a certain area on the track to activate this mode.

“Saudi Arabia is racing into the future with Formula E, as we open the Kingdom to the world in a transformation that’s being supercharged by the Vision 2030 plan, driven forward by Crown Prince Mohammed bin Salman,” Prince Abdul Aziz bin Turki Al-Faisal Al-Saud, vice-chair of the Saudi Arabian General Sports Authority, told Arab News.