Saudi Arabia's government will contribute to the salaries of nationals employed in the private sector as part of a wider effort to motivate companies to hire local nationals and boost their participation in the labour market, the government announced on Tuesday.
On Tuesday, Ahmad Al-Rajhi, the Saudi Minister of Labor and Social Development, said that the move was designed to help upskill Saudi employees and prepare them for future employment.
As part of the programme, monthly wages will be supported by sums of between SAR 4,000 ($1,066) and SAR 10,000 ($2,666).
The kingdom’s Vision 2030 reform plan calls for unemployment to be slashed from 11.6 percent to seven percent.
Additionally, the plan calls for the portion of women in the workforce to rise from 22 percent to 30 percent.For all the latest business news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
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