As business owners continue to rally agains the Ministry of Labor’s decision to impose new fees on visas for expatriate workers, Prince Alwaleed bin Talal came out today to express his support to MOL’s decision and praised Labor Minister Adel Fakeih after meeting him recently in Riyadh.
“The SR 200 monthly fee on business owners employing less than 50% Saudis is a very small amount to pay by them for the benefit of their country,” Alwaleed said. “Any company or organization that wants to avoid paying those fees can do so by employing 50% Saudis.”
Alwaleed is a businessman and member of the Saudi royal family. As of November 30, 2012, the Bloomberg Billionaires Index listed him as the 16th-richest man in the world, with an estimated net worth of $25.2 billion.
MOL’s decision to increase foreign workers visa fees is part of a series of steps taken by the ministry to increase the number of Saudi nationals working in the private sector. The Saudization efforts aim to decrease the unemployment rate in the country, estimated to be above 10 percent.