Foreign firms have to hire Saudis in leadership positions
Foreign firms have to hire Saudis in leadership positions
These companies will have to maintain the ratio decided by the Ministry of Labor and Social Development, according to an online newspaper.
For leadership jobs for Saudis, according to conditions announced earlier this week, companies will have to create a plan and implement it for the first five years, and ensure that they will continue to implement it. These companies will have to train not less than 30 percent of their Saudi employees every year.
These companies will also have to distribute products, 30 percent of which have to be Saudi made. It has also been made mandatory to allocate at least 5 percent of their total sales for research and development within the Kingdom. But from this condition, companies with less than SR300 million investment have been kept exempted.
The general authority for investment can give exemptions as per the rules and general standards without any discrimination. It will also review that all terms and conditions are fully implemented, and the outcome of their implementation over a period of five years.
These measures are understood to have been taken to ensure employment of Saudis in senior management positions in the private sector. The government is strongly pushing to deal with the high unemployment rate among citizens.
Recently the entire communication sector, particularly mobile phone sales and maintenance, was Saudized. The program is being implemented in different phases and local manpower is also being trained.
Saudi Arabia’s Misk partners with UN on youth empowerment
- The Saudi-UN partnership aims to reach and mobilize about 50 million young people around the world in support of the sustainable development goals
- Saudi Arabia has a big youth demographic, with 60 per cent of the country’s population under the age of 25
NEW YORK: Misk Foundation, the not-for-profit philanthropic organization set up by the Crown Prince of Saudi Arabia, Mohammed bin Salman, has joined forces with the United Nations in a ground-breaking campaign to advance the cause of young people around the world.
The agreement was signed at a ceremony at the UN’s New York headquarters a day after UN secretary-general Antonio Guterres launched his own initiative to enlist young people in its strategy for global sustainable development.
The Saudi-UN partnership aims to reach and mobilize about 50 million young people around the world in support of the sustainable development goals (SDG), via a series of meetings and forums as part of the UN’s Strategy for Youth.
The UN’s SDG program is a set of targets for future development, ranging from the elimination of hunger and poverty, through education and gender equality, to action on climate change and energy. It coincides with Saudi Arabia’s own Vision 2030 strategy in many respects.
Misk is the first non-governmental organization to join the campaign. “Misk’s mission is to discover, develop and empower young people to become active participants in the knowledge economy both in Saudi Arabia and globally, through partnerships such as this,” said a joint statement from the Saudi organization and the UN.
“Under the initiatives, young people’s leadership, creativity and innovation skills will be harnessed to bolster their ability to be agents for positive change during the run-up to the fifth anniversary of the SDGs in 2020.
“Adding to the existing Young Leaders for the SDGs initiative, a ‘Youth Gateway’ central knowledge hub on SDGs is planned, including a platform to map existing initiatives and provide opportunities for engagement, aimed at motivating more young people to take action. Tools will be developed to measure and track global indicators on youth development and well-being,” the statement added.
Bader Alsaker, chairman of the board of the Misk Initiatives Centre, said: "The Misk Foundation is committed to helping as many young people around the world realize their potential in the future economy and to encourage active global citizenship. The strategic agreement that we are signing today shows our commitment to this mission.
“Partnering with the United Nations will greatly enhance its vital work around the world to help young people from all backgrounds to realize their potential and meet the SDGs,” he added.
Jayathma Wickramanayake, the UN secretary-general’s envoy on youth, added: “This major contribution towards the UN Secretariat’s work on youth will be used to operationalize the new UN Strategy on Youth with a focus on advancing our collective efforts to support youth mobilization for the 2030 Agenda worldwide.
“It comes at crucial time, immediately after the public launch of the UN’s Youth Strategy, which shows the commitment and dedication of the Misk Foundation to supporting youth development globally,” she added.
Saudi Arabia has a big youth demographic, with 60 per cent of the country’s population under the age of 25. Many of the policies of the Vision 2030 strategy to reduce oil dependency focus on the need for more and better employment for young people.
According to a recent global poll for the Bill & Melinda Gates Foundation, young people have a far more optimistic view of their own future, as well as that of their country, than older people. “Young people in these countries are more likely to believe they can affect the way their countries are governed and that their generation will have a more positive impact on the world than their parents' generation,” Gates found.
Sultan Al-Musallam, global ambassador of the Misk Foundation, told the UN: “The core belief held by youth, that our problems can only be solved together, in a way that is blind to race, religion or region, is also the bedrock of the UN.”