The Minister informed this while speaking at a session held in connection with the Budget Forum in Riyadh. The second phase of Saudization will include six important areas.
With the strengthening of indigenization, the number of Saudi employees in the private sector has increased from 17 lakh to 23 lakh. The target is to increase the number of non-profit sector organizations by 30 per cent to 5,000 and the number of cooperative societies to 467.
The Minister pointed out that 3,61,000 people who got jobs through Saudization are entering the labor market for the first time. Female participation in the labor market has increased from 17 percent to 35.3 percent. The Ministry’s new target is to increase this to 40 percent. The target was to increase the number of working women to 30 percent by 2030. This target was achieved eight years ahead of schedule.
The number of Saudis in engineering professions was increased from 40,000 to 70,000 through special Saudization. The Minister explained that this has helped increase the number of Swadeshi in accounting professions from 42,000 to 1,03,000 and empowered more than one lakh Swadeshi youth.
Minister Al Rajhi stated at the recent International Social Dialogue Forum held in Riyadh that 4.80 lakh Saudis got jobs through the revised Saudization policy. More than 1,67,000 natives have entered the job during 12 months. 98 percent of the institutions followed Saudiization rules. 92 percent of the companies have fully implemented other labor laws. With the arrival of Nitwakhat, the average salary of Saudis has also increased. The unemployment rate fell and helped more women enter the workforce.