Research highlights economic impact of cover-up businesses

Jeddah Gov. Prince Mishaal bin Majed receives a copy of the studies on cover-up businesses by expats at his office.

Jeddah Gov. Prince Mishaal bin Majed receives a copy of the studies on cover-up businesses by expats at his office.

Jeddah Gov. Prince Mishaal bin Majed has hailed the research study on the sprawling cover-up businesses in Jeddah involving large numbers of expats by the King Abdulaziz University.

The study, which is chaired by the prince, revealed that the businesses were being run by expatriates in the names of their sponsors.

Prof. Osama Tayyeb, rector of the university, recently briefed Prince Mishaal on the activities and publications of the KAU-based Mishaal bin Majed Chair for Cover-up Businesses Studies.

The briefing was attended by Ahmed Nagadi, vice president for Business and Knowledge Creativity, Abdullah Al-Ghamdi, dean of the KAU Research and Consulting Institute (RACI), and dean of the Faculty of Economics and Administration and Abdulaziz Diyab, the cover-up business study chair’s professor, according to university spokesperson Sharah Bugaimi.

The chair is dedicated to conducting research on the economic and social impact of Tasatur (providing cover for expatriates to illegally run their own business activities) on the Saudi society and ways to combat the phenomenon.

According to Prof. Diyab, “the phenomenon of cover-up businesses has created unhealthy competition in the local market.” He said that the Saudi government has attempted to combat this problem but has been unsuccessful so far with the practice having increased lately. He noted that the government is aware of the negative economic, social, legal and political impact the illegal businesses are having on the society.

The study chair was launched in 2013 at a ceremony held in the Jeddah Governorate in the presence of Prince Mishaal bin Majed and Prof Osama S. Tayyeb.

The purpose of the chair is to conduct research on the economic and social impact of Tasatur on the Saudi society and ways to combat the phenomenon.

Prof. Diyab, who is responsible for the chair, graduated from King Abdulaziz University in 1975 with a BA in economics and a PhD from the United States.

 
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