Saudi development fund pumps SR8.2 million into jobs program

Saudi development fund pumps SR8.2 million into jobs program
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Updated 03 April 2020

Saudi development fund pumps SR8.2 million into jobs program

Saudi development fund pumps SR8.2 million into jobs program

RIYADH: The Saudi Human Resources Development Fund (Hadaf) pumped SR8.2 million ($2.18 million) into 983 private-sector enterprises during March as part of an employment support program to improve workers’ skills.

The scheme covers a percentage of the salaries of Saudis working for companies in the private sector and aims to encourage businesses to localize, while improving the Saudis’ contribution to the labor market within a stimulating, productive and stable work environment.

It is also designed to improve the skills of employees through programs on the Doroob e-training platform and development initiatives run by accredited training bodies to meet market needs.

The program provides financial support for 36 months, covering 30 percent of the first year’s salary, 20 percent for the second year, and 10 percent for the final 12 months.

Businesses receive an additional 10 percent in financial support when they employ female or disabled staff, take on workers in less-populated provinces, or have fewer than 50 employees.

The minimum salary eligible for support is SR4,000, while the highest is SR15,000. They should also be declared by the program and registered at the General Organization for Social Insurance (GOSI).