Cabinet OKs body to create jobs for Saudis

Updated 21 October 2015
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Cabinet OKs body to create jobs for Saudis

RIYADH: The Cabinet has approved the formation of a body to cut unemployment and generate jobs to improve the living conditions of unemployed citizens.
“The formation of the body will result in the expansion of the local economy and the reduction of foreign workers who remit SR153 billion annually,” said economist Fahd bin Juma.
He said the best sectors which generated jobs during the last six months of 2015 included the service industry, marketing, engineering and the scientific, technical and humanitarian fields.
Juma said the body, which is affiliated with the Council of Economic Affairs and Development, ensures efficiency, and that its performance is in line with its goal of generating jobs.
“The body also aims to eliminate the coverup which made foreigners control small businesses which are supposed to be occupied by the owner who should get all the profits,” he said. He added that it would also eliminate phony Saudization in the social security system
He said the labor force in the Kingdom is 11,912,209-strong, but of the number only 47 percent are Saudis (5,591,563) while 53 percent (6,320,646) are foreigners.
He noted that the situation is untenable and something has to be done to make the labor market favor of Saudi citizens.


Finance officials meet to map out Saudi Arabia’s budget plans

Updated 19 April 2019
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Finance officials meet to map out Saudi Arabia’s budget plans

  • Finance representatives of 150 government bodies meet for the Budget Forum 2020

RIYADH: Saudi finance chiefs have kicked off a major conference in the capital aimed at mapping out the Kingdom’s budget requirements.
Around 300 specialists representing 150 government bodies met at the InterContinental hotel in Riyadh for the Budget Forum 2020.
Minister of Finance Mohammed Al-Jadaan welcomed delegates to the second edition of the gathering organized by the Saudi Finance Ministry under the slogan “Partnership and Empowerment.”
Al-Jadaan said the ministry was focused on “partnership and commitment,” and sought to share the challenge of developing an effective budget to achieve the Kingdom’s ambitious goals.
“We are also committed to empowering financial leaderships to learn about the ministry’s programs and projects and provide training and qualification opportunities to the best international standards,” he added.
The finance chief said the budget planning process required the collaboration of multiple authorities and a clear strategy based on transparency. 
Items up for discussion at the forum included financial planning in governmental bodies, automation, and the promotion of revenues and efficient spending.
Finance Ministry steering committee chairman, Abdul Aziz bin Saleh Al-Freih, stressed the importance of the forum in getting the ball rolling at an early stage on formulating a general state budget.
Workshops were held on the sidelines of the conference focused on empowering government organizations, and a training program on financial planning and income estimations was also staged.