Saudi Arabia’s rapid governmental updates have impacted companies operating in the Kingdom down to the employee level. Human resource departments have had to rapidly adapt to implement changes. In recent years, there have been updates to many regulations including Saudization, TAQAT, Nitaqat, GOSI and block visas.
However, many of the updates have been positive such as the government offering improved services through a more convenient e-service option which provides faster approvals.
E-services
The introduction of e-services in the Kingdom has made government services more efficient by decreasing delays that were present due to manual processing. Now, many e-services deliver confirmations in as little as a few minutes. Some of the recently introduced e-services include the employee contract registrations, e-approval of sick leave and the profession amendment e-service.
How companies deal with ministries
As company’s communication with ministries becomes increasingly digital, the need to visit physical offices decreases. E-services and online portals store data that companies need, such as contracts, employee data or wages, giving them access to more reliable, transparent and accurate information; increasing trust between the private sector and government.
Companies who are non compliant can face penalties, however, the simplification of processes has resulted in higher levels of compliance due to ease of use.
How can companies handle updates?
With the government working to create a more attractive market for companies, many changes are to be expected, and being able to respond proactively to updates is beneficial. Human resource departments can ensure compliance through frequent checking of regulatory updates from government ministries, assessing how changes will impact the business, creating a strategy to implement the change and execution.
Conclusion
The governmental updates improving the business environment for foreign investors in the Kingdom is creating ease for companies to operate. The introduction of online portals and services makes processes more efficient, timely and reliable for companies. We can expect further improvements from the Saudi government as they continue to reach their Vision 2030 objective of creating an attractive market for foreign and local investors.
-Ends-
ABOUT PROVEN
Founded by Saudi Nationals Zaid Al Mashari and Naif Al Otaibi in 2009, PROVEN SA delivers business solutions to companies currently operating in or looking to branch out into KSA. PROVEN SA is a specialist in corporate immigration, employee outsourcing and recruitment, Providing international companies with advanced regional insight and the necessary tools to successfully do business within the Kingdoms burgeoning markets. Due to an increase in international interest, PROVEN SA expanded out of Saudi in 2016, and now holds offices in Riyadh, Dubai, Dallas and London.
Website: https://proven-sa.com
Telephone: +971 4 4508 208 / +966 (11) 411 1127
Email: info@proven-sa.com
Facebook: @provensaudi
Twitter: @proven_sa
Linkedin: Proven SA
For more information
Alexis Aboagye - Marketing Executive
+971 4 450 8208
© Press Release 2019Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.
The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.
To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.
