Saudi private sector employment reaches 11.27m in April: official data

According to the Saudi National Labor Observatory report, there was a net increase in citizen employment for April, with 18,535 individuals newly joining the private sector workforce. Shutterstock
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Updated 12 May 2024
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Saudi private sector employment reaches 11.27m in April: official data

RIYADH: Saudi Arabia’s private sector has created more job opportunities, with the total number of employees reaching 11.27 million workers in April, official data showed. 

According to the Saudi National Labor Observatory report, there was a net increase in citizen employment for April, with 18,535 individuals newly joining the private sector workforce. 

Among these figures, there are over 2.35 million Saudi nationals, comprising more than 970,200 female workers and over 1.38 million male employees. 

On the other hand, NLO data showed that the total number of residents employed in the private sector exceeded 8.91 million individuals, comprising over 8.55 million male workers and only 364,900 female employees.

The report provides an overview of the Saudi private sector, highlighting a dynamic workforce of over 9.9 million male workers and more than 1.3 million female workers, representing diverse nationalities and playing integral roles in sector operations. 

In February, the total number of employees in the Saudi private sector reached 11.1 million, marking a 0.9 percent increase from the previous month, according to an NLO release. 

The national observatory report revealed that out of the total, 2.3 million were Saudi nationals, while 8.8 million were residents of the Kingdom belonging to different nationalities. 

That data reflected a positive trend in the employment industry as the private sector continues to expand its workforce, creating opportunities for Saudi citizens. 

Moreover, an analysis of the Saudi national workforce revealed that while 961,690 employees were females, 1.4 million were males. 

Meanwhile, among the 8.8 million non-Saudi workers, 348,892 were women, while 8.4 million were men. 

In February alone, the net growth in jobs for Saudi nationals as well as residents stood at 26,694, indicating a steady increase in employment within the private sector. 

Saudi Arabia’s economic diversification efforts have transformed the Kingdom into a hub for employment opportunities, propelled by bold giga-projects such as NEOM, which attract fresh talent into the construction sector.  

NLO, a governmental organization, is tasked with monitoring and analyzing labor market trends and dynamics in the country. It serves as a crucial resource for policymakers, researchers, and stakeholders interested in understanding and addressing issues related to employment, workforce development, and labor market regulations. 


Saudi Fund for Development, Omani Ministry of Finance sign MoU to establish industrial city

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Saudi Fund for Development, Omani Ministry of Finance sign MoU to establish industrial city

RIYADH: The CEO of the Saudi Fund for Development, Sultan bin Abdulrahman Al-Murshid, and the Omani Minister of Finance, Sultan bin Salem Al-Habsi, signed a development memorandum of understanding to support the establishment of the Thumrait Industrial City Project in Oman.

The project is funded by Saudi Arabia through the SFD with $40 million.

The signing ceremony was attended by the Saudi Ambassador to Oman, Ibrahim bin Saad bin Bishan, and several officials from both sides.

The MoU aims to develop the industrial, logistical, developmental, and social sectors in the Dhofar Governorate through the establishment of the integrated Thumrait Industrial City, covering an area of ​​approximately 3.94 million sq. meters.

The city will be equipped with all necessary infrastructure services. The project includes the construction and equipping of administrative and service buildings as well as public facilities. It also includes road works and electrical installations, as well as water networks and the construction of two wastewater treatment plants.

Engineering consultancy services will also be provided, reflecting the expected developmental impact in enhancing the industrial and service sectors in the governorate.

The CEO of the SFD affirmed that this MoU reflects the Kingdom’s efforts, through the fund, to support development sectors in Oman and strengthen the close development partnership between the two sides.

This will be achieved through the implementation of high-quality projects that contribute to developing infrastructure and creating an integrated and stimulating environment for industrial and logistical activities, which will positively impact the empowerment of the private sector and enhance economic as well as social development.

For his part, the Omani Minister of Finance emphasized that the signing of this agreement stems from a desire to strengthen developmental, economic, and investment relations and encourage partnerships across various sectors between the two countries.

At a time when the world is getting fragmented due to geopolitical tensions and ongoing wars, Saudi Arabia’s development fund is becoming a beacon of hope, as it continues to provide soft loans and grants for emerging economies.

Established in 1974 and commencing operations in 1975, the Saudi Fund for Development has financed more than 800 development projects in over 100 countries, with a cumulative value exceeding $21 billion.

SFD’s financing spans across multiple sectors, including health, education, and transport, as well as water and energy, with the aim of improving living conditions, enhancing capacity building, and creating job opportunities for millions of people in emerging nations.