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FinancialNews
29-04-21
Saudi Arabia increases localization efforts in 1Q
(MENAFN)Saudi Arabia boosted localization efforts in the first three months as the amount of Saudis in the Kingdom’s workforce increased to 22.75 percent.
The National Labor Observatory (NLO) of the Human Resources Development Fund (Hadaf) showed that the numbers are compared with 20.37 percent in the same period a year ago.
SPA further reported that it shows a stable boost from 2017 when the localization volume stood at 16.46 percent, increasing to 18.61 percent a year later and 20.21 percent in 2019.
Gulf states are increasing efforts to decrease reliance on expatriates and offer more jobs for citizens as part of wider economic reform efforts set to reduce reliance on the oil industry. That procedure is noticeable in Saudi Arabia, the region’s largest economy.
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