Comments on Saudi Arabia's Long-term Residency plan in Bloomberg, 15 May 2019

17 May, 2019
read 1 minute

Dr. Nasser Saidi’s comments on Saudi Arabia’s long-term residency plan to expatriates appeared in the article “Saudi Arabia Says Landmark Residency Plan Will Bolster Economy” published on Bloomberg on 15th May 2019.
The full article can be accessed at: https://www.bloomberg.com/news/articles/2019-05-15/saudis-offer-permanent-residency-to-some-expats-in-landmark-move
Comment are posted below:
Saudi Arabia approved a program that offers permanent residency for some foreigners to attract investments, the latest sign of how the quest for non-oil revenue is prompting Gulf Arab countries to rethink the role of expats in their societies.
The system is a “step in the right direction” but not a “permanent solution,” said Nasser Saidi, president of Nasser Saidi & Associates and former chief economist at the Dubai International Financial Centre.
“If you really want to move forward and innovate, the whole sponsorship system needs to be abolished,” he said. “Only then you’ll have a truly dynamic economy and people would want to invest in the country instead of sending their money back home.”

Read Next

media page

Comments on “Was Lebanon the world’s biggest Ponzi scheme?” in Arab News, Aug 9 2022

Dr. Nasser Saidi’s comments appeared in an Arab News article titled “Was Lebanon the world’s

10 August, 2022

MENA Economics

Comments in the Economist’s article “An oil windfall offers Gulf states one last chance to splurge”, 7 Aug 2022

Dr. Nasser Saidi’s comments appeared in The Economist’s article titled “An oil windfall offers Gulf states

8 August, 2022

TV and radio

Bloomberg Daybreak Middle East Interview, 22 Jul 2022

Aathira Prasad joined Yousef Gamal El-Din on 22nd of July, 2022 as part of the

25 July, 2022