The Ministry of Labor and 190 cooperative societies in the country are trying to create 5,000 jobs for Saudi youth over the next two years with monthly salaries starting from SR4,000.

Nasir Al-Towaim, deputy chairman of the Saudi Cooperative Societies, said the local bodies are trying to update their systems, increase their branches and improve working conditions as part of their plan to create more jobs for Saudis.

He said most cooperative societies in the country have multiple operations and capital of SR200 million. They are semi-government bodies that are socially responsible, assisting in alleviating poverty and curbing the greed of merchants, he said.

He said the project launched by Custodian of the Two Holy Mosques King Abdullah to develop these bodies would be implemented after studies are completed.

The project is based on five initiatives including the establishment of an independent body for cooperatives, a fund for loans, an investment company and a college for training.

He said these societies offer various services including working with the Ministry of Agriculture to distribute fodder to people with low incomes; and cooperating with the education directorate in Riyadh to educate pupils and teachers about their work.

Al-Towaim said the king has provided SR30 million to develop and improve cooperative societies. He also ordered municipalities and secretariats to offer land and grants for these bodies.