Al-Rajhi: 92% of the labor market strategy has been completed, and 2.5 million Saudis have been employed
The Minister of Human Resources and Social Development, Engineer Ahmed bin Sulaiman Al-Rajhi, announced a significant leap forward in the Kingdom's economic and social reforms, confirming that the labor market system has successfully achieved 92% of its strategic objectives. This announcement reflects the substantial transformation underway in the sector, exceeding expectations and positioning the Kingdom among the leading nations in labor market efficiency.
Historical figures in localization and the private sector
In discussing achievements, Al-Rajhi revealed a new record reflecting the success of Saudization plans: 2.5 million Saudis are now employed in the private sector. This figure is not merely a statistic, but rather a structural shift in the Saudi economy, where the private sector has become the largest partner in absorbing national talent. This directly contributes to reducing unemployment rates and achieving one of the key pillars of the Kingdom's Vision 2030: empowering citizens to lead economic development.
Modern work patterns: Flexibility that keeps pace with global changes
The achievements were not limited to traditional employment, but also included adopting modern work models that keep pace with global changes in the post-pandemic era. The minister explained that flexible work, remote work, and freelance work programs have seen widespread adoption, where:
- More than 430,000 citizens from self-employment documents, which promotes a culture of individual entrepreneurship.
- one million employment contracts were issued under the flexible and remote work systems, providing job solutions that suit the circumstances of broad segments of society.
Investing in human capital
Believing that training is the gateway to sustainable employment, Al-Rajhi reviewed the system's efforts to enhance the skills of the national workforce. The Ministry launched the "Wa'ad" campaign, which aims to provide 4.5 million training opportunities, two million of which have been completed so far. In parallel, the Human Resources Development Fund (HRDF) provided generous support exceeding 3.8 billion riyals , benefiting more than 1.5 million citizens, to ensure their skills align with the evolving demands of the labor market.
Supporting small and medium enterprises
As part of the integration of employment and economic empowerment, the Minister highlighted the vital role of the Social Development Bank, which has provided financial support amounting to 8.5 billion riyals , benefiting more than 130,000 individuals. This support directly aims to stimulate the small and medium-sized enterprises (SMEs) sector, which is the main driver of job creation and innovation in emerging economies.
Strategic partnerships from Medina
These remarks were made during the Minister's meeting with business leaders in the Madinah region, where they discussed ways to strengthen partnerships between the public and private sectors. The visit included a tour of the "Made in Madinah" exhibition, which showcases the region's industrial and entrepreneurial capabilities, as well as a meeting with Chamber of Commerce officials to explore future cooperation opportunities. This underscores the Ministry's commitment to expanding partnerships to encompass all regions of the Kingdom to ensure balanced and sustainable development.
