TAIF — The Labor Ministry will introduce new regulations starting July 28 to organize the labor market and open up new work opportunities for young Saudis, local daily Al-Madinah reported Thursday quoting official sources from the ministry. Under the new regulations, expatriate laborers can transfer their iqamas (residence permits) to other sponsors on condition that they have spent two years at least with the sponsor that they are leaving. The regulations said the iqamas of expatriate laborers working in companies in the yellow level of the Nitaqat system, indicating that sponsors have not met Saudization quotas, will not be renewed. The accumulative rate of Saudization for every private company will be counted for the last 26 weeks according to data to be collected from the National Information Center and the General Organization for Social Insurance (GOSI). — SG
