Cairo: A Saudi government fund aimed at promoting private sector employment for citizens has reported supporting the hiring of 437,000 Saudis in private sector establishments in 2024, marking a 17% increase compared to the previous year.
The Human Resources Development Fund also revealed that 2 million Saudis benefited from its training, empowerment, and guidance programmes last year, reflecting a 5% growth from 2023.
Additionally, over 179,000 establishments across various sectors of the labour market utilized the fund’s services in 2024, representing a 49% rise compared to the previous year. Spending on training and empowerment programmes reached SR7.5 billion.
The wages of Saudis employed in the private sector increased by 45% during 2024. The private sector also accounted for 50.5% of the total Saudi workforce, with the number of Saudis in private sector roles rising to 2.4 million, including 361,000 first-time entrants to the labour market.
In recent years, Saudi Arabia has launched various initiatives to employ its citizens and reduce reliance on foreign workers in sectors such as education, telecommunications, real estate, engineering, and healthcare.
This labour strategy, known as “Saudisation,” incentivises private sector businesses to create jobs for nationals. Additionally, the kingdom is implementing a regional employment programme to further enhance job opportunities for its citizens.
