Nitaqat: 48% firms in Red zone

Nitaqat: 48% firms in Red zone
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Nitaqat: 48% firms in Red zone
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Updated 06 March 2013

Nitaqat: 48% firms in Red zone

Nitaqat: 48% firms in Red zone

Forty-eight percent of companies (120,599) in the Kingdom out of 248,828 still remain in the Red zone of the Nitaqat system despite the Labor Ministry’s intensive campaign to Saudize jobs in the private sector.
“The Red category firms included 19 major companies,” said an informed source at the ministry who requested anonymity. A total of 80,347 firms got into the Green category during 2012.
The source also pointed out that 113,000 SMEs have found themselves in the Red category, while 66,890 SMEs have been categorized as Green firms.
He also pointed out that 34,617 SMEs, 5,058 medium companies, 642 major firms and 42 mega companies are in the Yellow zone.
Meanwhile, the Shoura Council has urged the Human Resources Development Fund to review its Hafiz unemployment benefit program to create more jobs for Saudis.
Amal Al-Shaman, a Shoura member, criticized the fund for not giving details of its investments. “Only 23 women got jobs as a result of the fund’s efforts,” she pointed out. “Hafiz should make greater efforts to find jobs for Saudis, especially women.”