Will the new governmental policies in Saudi Arabia affect the recruitment process and development in the country?

They will, but maybe in the long term rather than the short term.
It would be interesting to see how things shape up.

The recent changes will affect recruitment in Saudi Arabia to some extent.
The changes will give a boost to the hiring of Saudi Nationals as part of the Kingdom's nationalization plans which is good.
On the other hand, I feel employers will find it more expensive to hire expatriates.
Also, since many candidates do not really choose to work in their field of specialization (i.e.
Educational qualification), issuing employment visas will also prove to be a challenge.

No, These policies will only affect agencies that are mess-using the low.
Most of agencies that are following the policies & procedures will not be effected.
hope that yours are among the most :)

I agree with Shobha, Ahmed and Roba Al-Assi, there will be changes in the Recruitment Process and Overall Development in KSA.
I believe that Saudiazation will be prominently benefitted, however the actual effects of these new governmental policies will only be seen in the long run.