Increasing Private Sector Jobs in Saudi Arabia: Saudi Manpower Development Fund’s Initiatives 2023.
Boosting Employment in Saudi Arabia: Saudi Manpower Development Fund Provides Subsidies and Training for Private Sector Jobs.
Introduction
The Saudi Manpower Development Fund, known as Hadaf, has announced that 400,000 Saudis will be provided with subsidies for employment in private sector companies and institutions during 2022.
This initiative is part of the government’s efforts to increase the number of Saudis working in the private sector and reduce unemployment rates.
Understanding Saudi Arabia’s Foreign Worker Visa Regulations 2023
Subsidies for Employment in Private Sector
According to Al-Eqsadiya, the Saudi Manpower Development Fund has said that 400,000 Saudis will be provided with subsidies for employment in private sector companies and institutions during 2022.
This will help to increase the number of Saudis working in the private sector and reduce unemployment rates.
Training Programs for Employment
The Manpower Development Fund also announced that last year, 6 billion riyals were spent on training programs to make Saudis employable.
These programs have benefited 1.49 million Saudi youth, including women. These training programs were designed to help individuals acquire the skills and knowledge needed to be successful in the private sector.
Benefits to Private Sector Companies and Institutions
The Manpower Development Fund has also benefited 138,000 private sector companies and institutions.
These companies and institutions have been able to access the fund’s resources, including training programs and subsidies, to help them employ more Saudis.
Exploring Oman: A Budget-Friendly Adventure 2023
Conclusion
The Saudi Development Manpower Fund’s initiative to provide subsidies for employment in private sector companies and institutions is an effort to increase the number of Saudis working in the private sector and reduce unemployment rates.
Training programs have also been provided to make Saudis employable. The Manpower Development Fund has also benefited private sector companies and institutions by providing them with resources to employ more Saudis.
This will help in achieving the goal of Saudi Vision 2030 which is increasing the participation of Saudi citizens in the labour market.
