Cabinet OKs body to create jobs for Saudis

Cabinet OKs body to create jobs for Saudis
Updated 21 October 2015

Cabinet OKs body to create jobs for Saudis

Cabinet OKs body to create jobs for Saudis

RIYADH: The Cabinet has approved the formation of a body to cut unemployment and generate jobs to improve the living conditions of unemployed citizens.
“The formation of the body will result in the expansion of the local economy and the reduction of foreign workers who remit SR153 billion annually,” said economist Fahd bin Juma.
He said the best sectors which generated jobs during the last six months of 2015 included the service industry, marketing, engineering and the scientific, technical and humanitarian fields.
Juma said the body, which is affiliated with the Council of Economic Affairs and Development, ensures efficiency, and that its performance is in line with its goal of generating jobs.
“The body also aims to eliminate the coverup which made foreigners control small businesses which are supposed to be occupied by the owner who should get all the profits,” he said. He added that it would also eliminate phony Saudization in the social security system
He said the labor force in the Kingdom is 11,912,209-strong, but of the number only 47 percent are Saudis (5,591,563) while 53 percent (6,320,646) are foreigners.
He noted that the situation is untenable and something has to be done to make the labor market favor of Saudi citizens.