Over 100,000 contractors quit Saudi in last year
Clause in labour regulations would be 'catastrophic'
More than 100,000 contractors quit the business over the past year according to the chairman of the National Committee for Contractors at the Council of Saudi Chambers.
The number was revealed by Fahd Al-Hammadi at a press conference in the Makkah Chamber of Commerce and Industry.
He said: “The number of registered contractors at the chambers in the Kingdom fell to 140,000 from 240,000 in a year. They just disappeared from the market, according to statistical studies.”
Hammadi warned against a clause in the new labour regulations permitting foreign workers to keep their passports and to obtain a transfer to any sponsor they wished when the contract period with the original sponsoring company ended.
He said the clause, if implemented, would be catastrophic for the Saudi contractors’ market.