Following the footsteps of the retail and engineering professions, the Ministry of Human Resources and Social Development in Saudi Arabia has implemented 30% localization of the accounting profession in line with Vision 2030, which came into effect on 12 June 2021. The Nationalization Scheme, or Nitaqat, is a policy adopted by the Ministry of Labour that requires Saudi enterprises to hire local people on a quota basis. The government aims to create more than 9,800 jobs in the private sector by localizing jobs in this profession. This article will dive into details in the Saudization plan, how the government is facilitating it, and what needs to be done to achieve the goal.
This paper is focused on the journey of Kuwait as a business powerhouse, its economic diversification strategies, its market strengths, investment opportunities, and corporate structures.
This document is focused on resolving the most frequently asked questions about the steps and procedures required to form a company in Saudi Arabia.