RIYADH: The Saudi Ministry of Finance is working to raise employment localization in the asset and utility management sector, it said in its Budget Forecast report on Thursday.
The ministry plans to bring the cumulative number of employed nationals in the sector to 90,100 by the end of this year from 74,800, as part of the government spending efficiency program.
The Saudi government has been working on enhancing spending efficiency and increasing its effectiveness since the launch of Vision 2030, the ministry said.
The government worked on creating different goals to achieve financial savings estimated at SR200 billion by 2023. It achieved more than the target by 2021, with more than double the savings at SR502 billion from 2018 to the second quarter of 2021.
The ministry stated that it aims to achieve additional fiscal savings estimated at SR100 billion from year 2021 to year 2025.
Saudization programs aim to create 213,000 jobs for Saudis during the year 2021, Minister of Human Resources and Social Development Ahmed Al-Rajhi said during a meeting with businessmen and members of the Chamber of Commerce in Al-Jouf region last month.
Al-Rajhi said that the Nitaqat localization program reduced the number of classified activities to 32 and linked the Saudization rates to an equation based on the number of workers to facilitate the private sector’s interaction with the program and increase the participation of more Saudis in the labor market.