Wednesday 16 January 2019

Saudi to target 'cover-up' businesses

Riyadh, May 13, 2014

The “tasattur” businesses (cover-up) run by expatriates in the name of Saudis across the Kingdom will be targeted in a new campaign sanctioned by the Saudi Cabinet yesterday, a report said.

The decision follows a Interior Ministry finding that foreigners are dominating certain business sectors in the kingdom, said the Arab News report.

The total value of “tasattur” businesses transactions is estimated at more than SR230 billion ($61.3 billiion), it said.

The Ministry of Commerce and Industry will be provided with human and material resources to lead an effective campaign against the business practice, the Cabinet said, according to the report.

The Cabinet instructed agencies to intensify inspections in markets and report illegal business practices to the Ministry of Commerce and Industry, it said.

Expatriates dominate about 95 percent of the retail and wholesale market, while the Labor Ministry intends to target the retail industry to create 600,000 jobs for citizens, the Arab News said.

Tags: Cabinet | retail | expats | cover-up |

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