RIYADH: A total of 204 Saudi youths, including 18 women, have expressed their interest in investing in the mobile and telecommunications industry in the Kingdom, the Labor Ministry said on Thursday.
The Saudi Credit and Savings Bank will fund a maximum of SR200,000 to each applicant who is interested in investing in the industry.
They will be asked to repay the loan in instalments after a grace period of 12 months.
Earlier, the National Business Institute called for applications from men and women, who are above the age of 18 years, to take up self-help projects in the industry.
In response, the institute received 7,039 applicants, with Riyadh receiving the largest number of applicants at 1,393, followed by Makkah with 1,135, and Madinah with 516.
The ministry is also conducting training programs for young Saudis who wish to enter the mobile sector.
The deployment of locals in this sector is being carried out in coordination with other ministries, the Human Resources Development Fund (HRDF), Technical and Vocational Training Corporation (TVTC), and the General Organization for Social Insurance.
The training program, conducted in coordination with TVTC, covers areas such as customer service, sales management, the basics and advanced maintenance of mobile phones.
The new plan aims to create jobs for Saudis that would give them financial stability and minimize cover-up activities in the Kindgom. The decision will be enforced across the country and include small, medium and large businesses.
The HRDF will provide employment support services to enterprises and job-seekers in the telecommunications industry, which is accessible at www.taqat.sa.
There is also support provided in paying part of the salaries of Saudis employed.
204 youths to invest in mobile industry
204 youths to invest in mobile industry
