This is the second recruitment company licensed by the ministry as part of the government’s efforts to streamline the recruitment of foreign workers and provide them with comprehensive services.
“The company is licensed to recruit workers and provide labor-related services to others and can recruit house servants as well as workers required for the public and private sectors,” the ministry said.
The license is granted for 99 years, which can be extended by a decision to be taken by an extraordinary meeting of the company’s general assembly. It has to obtain permission from the Capital Market Authority to exchange its shares on the Saudi bourse.
Last February Al-Rabiah approved the establishment of Riyadh-based Saudi Recruitment Company with a capital of SR100 million.
Ministry of Labor has given the 13 new recruitment companies that have obtained preliminary licenses 60 days to fulfill the requirements to obtain their final licenses.
A senior ministry official said the doors would remain open for the establishment of more private recruitment companies provided they strictly adhere to the conditions approved by the ministry.
“The ministry’s decision to give the opportunity to everyone to establish a recruitment company was promoted by its keenness to achieve variety, justice and competitiveness in the labor market for the benefit of both the companies and clientele,” he said.
The official expected the new recruitment companies to start their activities a year after obtaining their final licenses. He explained the issuance of the final licenses by the ministry to the recruitment firms depends largely on three conditions: the scale of demand for foreign labor, their ability to accommodate workers and provide them with all required services, and their ability to abide by the ministry’s rules and conditions.
Speaking about the second license, the ministry said Al-Rabiah has licensed Umm Al-Qura Development and Construction Co. with a capital of SR916.21 million, adding that it would develop King Abdul Aziz Road in Makkah and own and develop the real estate property in the region. It is also licensed for 99 years.
