Tough ‘Saudization’ process may cause 30% of gold, jewelry shops in Jeddah to close

A Saudi jeweller shows a customer gold bangles in a jewellery shop in Riyadh December 31, 2014. (Reuters)
Updated 23 November 2017

Tough ‘Saudization’ process may cause 30% of gold, jewelry shops in Jeddah to close

JEDDAH: Hundreds of gold and jewelry shops are expected to close once the decision to nationalize gold and jewelry jobs is enforced in about 10 days.
Last month, the Ministry of Labor and Social Development notified owners of gold and jewelry shops to conform to the Council of Ministers’ decision issued in 2007 about nationalizing the gold and jewelry sector. The notification came after the ministry noticed that owners did not abide fully by the decision.
Khalid Aba Al-Khail, spokesman for the Saudi Ministry of Labor and Social Development, said that the deadline for gold and jewelry shop owners to nationalize salesperson positions would be in two weeks. He also made it clear on his Twitter account that implementing the decision would be followed by the nationalization of other sectors as per a plan approved two months ago.
Mohammed Jameel Azouz, deputy chairman of the precious metal and gemstones committee at the Jeddah Chamber of Commerce and Industry (JCCI), asked the ministry to consider that jewelry businesspeople are going through hard times. He said they have conducted several training courses for Saudis to provide them with the skills needed in the gold market, but they found this field “unappealing” for Saudis for several reasons, such as the desire of young professionals to find secure jobs in the government sector.
“Some of the guys that we trained left their jobs for scholarship programs to complete their higher education,” Azouz told Arab News.
This, according to Azouz, will affect the process, as many businesspeople will find it difficult to cut their overheads. “In Jeddah, we have some 330 gold and jewelry shops, and I personally expect that 30 percent of these shops will close. The owners will invest their money elsewhere. Others will cut a number of branches,” he added.
Azouz claimed that young Saudi people are unenthusiastic about working in the gold and jewelry sector because, for example, a pickpocket or loss of an item can cost the salesperson his or her entire salary for the month. He said he supports all nationalization decisions, but demanded that they equally consider the interests of both jobseekers and employers.
“When the decision was first approved in 2007, it appeared to be inapplicable, and that is why shop owners did not take it seriously. After that long period of ignoring the decision, the ministry is asking us to nationalize the jobs in two months.”

 

Saudi bridge continues to aid stricken in Lebanon

KSRelief provided urgent food supplies to affected people living in the areas adjacent to the port, covering 500 families. (SPA)
Updated 10 August 2020

Saudi bridge continues to aid stricken in Lebanon

  • So far, 290 tons of aid transported to provide urgent humanitarian needs to people affected by explosion

JEDDAH: Aid continues to flow into the Lebanese capital Beirut, as the fourth Saudi air bridge plane operated by the King Salman Humanitarian Aid and Relief Center (KSRelief) arrived on Sunday.
Ninety tons of emergency aid was flown in on the flight, including medical materials and equipment, foodstuff and shelter supplies. Medicines, burn treatments, medical solutions, masks, gloves, sterilizers and other surgical materials will be distributed by special teams on the ground.
The plane also carried food baskets that included flour and dates as well as shelter materials such as tents, blankets, mattresses, and utensils.
So far, 290 tons of aid has been transported from Saudi Arabia to Lebanon as per the directives of King Salman to provide urgent humanitarian aid to the Lebanese people affected by the explosion at the Port of Beirut.
This aid was provided based on an assessment report of the necessary humanitarian needs resulting from the explosion, in coordination with the Saudi Embassy in Beirut, and the KSRelief branch in Lebanon.
This comes as an extension of the efforts made by Saudi Arabia to show solidarity with the Lebanese people and to provide relief to those affected by the disaster.

FASTFACT

So far, 290 tons of aid has been transported from Saudi Arabia to Lebanon as per the directives of King Salman to provide urgent humanitarian aid to the Lebanese people affected by the explosion at the Port of Beirut.

KSRelief provided urgent food supplies to affected people living in the areas adjacent to the port on Sunday, covering 500 families.
Saudi Ambassador to Lebanon Waleed bin Abdullah Bukhari told Arab News that special committees would oversee and review reports on the Lebanese people’s needs.
“Aid will continue to flow into Lebanon after assessing the required needs of the Lebanese people in cooperation with the relevant authorities in Lebanon,” he said.
Countries around the world have come together to help Lebanon in the wake of the explosion on Aug. 4, which devastated large areas of Beirut, damaging and destroying infrastructure, buildings and homes, including all port facilities and the country’s grain storage silos.