Friday, December 28, 2012
Labor Minister Adel Fakieh stated that there were about 8 million foreign workers in the Kingdom of which about 86 percent were employed in low-paying jobs that are not suitable for Saudis. This means that any effort or funds spent on the Saudization of these jobs would prove to be a waste.
Therefore we should immediately rescind all the decisions aimed at nationalizing these jobs such as the recently levied labor fees.
What then is the substitute? The alternative is in creating jobs especially designed for Saudis in which foreigners will not be able to compete.
These kinds of jobs will only be found in the knowledge sector industry.
This industry, if properly managed, can prove to be a viable alternative to the country's depleting oil wealth.
If this industry manages to thrive, we will not be able to find foreign workers to work in it. For example, if we go to India, which is a country that has countless qualified people in this field, we will not find anyone willing to work in the Kingdom as such people are paid high salaries and they have lucrative opportunities in Europe and the United States.
If we tempt them with higher salaries, the cost of foreign manpower in our country will be extremely high and we will not be able to compete with other countries in this domain.
There are initiatives now to introduce this industry in our country. We should encourage these initiatives and provide incentives to investors through the establishment of a bank to extend them with finances.
We should also direct Saudi students we send abroad on scholarships to study in this particular specialization. Countries such as Finland, Korea, India and Israel make most of their income from this industry.
In short, a knowledge-based economy is the industry of the 21st century. So why not enter it in this century when we have a chance instead of lagging behind in the 20th country of hydrocarbon fuels, which will one day deplete?
© The Saudi Gazette 2012
