Saudi minister unveils instant visa service for small businesses

Al-Rajhi added that the ministry carried out a number of extensive studies to determine the requirements of small businesses for migrant workers. (SPA)
Updated 20 November 2019

Saudi minister unveils instant visa service for small businesses

  • Al-Rajhi said the ministry will provide a comprehensive set of integrated tools for small-business owners

RIYADH: Saudi Arabia has unveiled plans to launch an instant work-visa service next month, through its Qiwa platform, that is specially designed to help new small businesses. Ahmed Al-Rajhi, the minister of labor and social development, said that it will enable young Saudis to launch start-up projects, open small businesses, boost economic growth and accelerate business expansion plans, which will have a positive impact on national development.

During a meeting with entrepreneurs from Hail Chamber of Commerce and Industry, Al-Rajhi said the ministry will provide a comprehensive set of integrated tools for small-business owners, along with a framework for nationalizing the workforce of such enterprises, after an initial grace period, under the Saudi nationalization scheme, Nitaqat. This will help to maintain the stability and continuity of the business during its early days.

He added that the ministry carried out a number of extensive studies to determine the requirements of small businesses for migrant workers, so that the new visa service meets their needs. The ministry places special importance on emerging projects, he said, as part of its role in developing the country's economy, creating job opportunities for young Saudis, and empowering them in the job market.

Earlier, the Ministry of Labor and Social Development launched a visa service for established businesses that are in the process of expanding, as part of its efforts to increase the annual growth of recently established enterprises.


Turki Al-Khalaif, CEO of Saudi Arabia’s Entrustment and Liquidation Center

Updated 7 min 43 sec ago

Turki Al-Khalaif, CEO of Saudi Arabia’s Entrustment and Liquidation Center

Turki Al-Khalaif has been CEO of the Entrustment and Liquidation Center (Infath) since December 2019.

He also worked as managing director at Infath from April 2019 to December 2019.

Al-Khalaif gained his bachelor’s degree in business administration from King Fahd University of Petroleum and Minerals, Dhahran, in 2003.

He received a high diploma in private equity from the London Business School in 2009 and an MBA in general management from the University of Hull in the UK in 2010.

Al-Khalaif also completed a master’s degree in investments analysis at the University of Stirling, Scotland, in 2011.

Before his current position, he worked as a financial analyst at Samba Financial Group, Alkhobar, from March 2003 to March 2004.

He also worked as an accounting assistance manager at Saudi Pharmaceutical Industries and Medical Appliances Corp., Qassim, between March 2004 and February 2009.

Al-Khalaif worked as a financial analyst at Morgan Stanley, Glasgow, between August 2010 and July 2011.

He also worked as CFO of the Warehousing & Logistics Services Co., Riyadh, from March 2013 to March 2015, and was an internal audit committee member and investment audit committee member from March 2013 to December 2017.

He was vice president of strategic and business development at Cayan Group in Riyadh and Dubai between March 2015 and January 2018.

Al-Khalaif was also ministerial adviser for the real estate contributions committee at the Ministry of Commerce and Investment, Riyadh, between October 2017 and October 2018.

He then became chief investment officer of the National Housing Co., Riyadh, from January 2018 to March 2019.