Saudi Arabia’s private sector has witnessed an increased percentage of Saudization during the third quarter of 2020, according to the latest figures of the National Labor Observatory (NLO).
The report issued by NLO, an affiliate of the Human Resources Development Fund, under the Ministry of Human Resources and National Development shows that the private sector establishments increased Saudization to 21.54 percent of the total private sector workforce when compared to 20.40 percent during the same period last year.
Nationalization in the private sector of the kingdom has seen steady increment and during the past years the percentage showed a balanced increase which is from 16.33 percent in 2016 and 17.08 percent in 2017 to 19.43 percent in 2018.
The Observatory stated that the number of Saudis who are working in the private sector and registered to General Organization for Social Insurance (GOSI) has reached 1,759,558 in the third quarter of the current year, which shows an increase of 81,430 subscribers compared to the second quarter of 2020, and of the total workforce 66.74 percent are men and 33.26 percent are women.
The Eastern Province topped with the highest Saudization of jobs in the private sector at a rate of 25.16 percent, which was followed by the Riyadh region with 21.89 percent, Makkah region 21.47 percent, Madinah 19.27 percent and Asir 17.85 percent.
The strategic objectives of the NLO, which was launched in January last year, includes the provision of accurate and reliable data to all shareholders, providing analysis and insights to business partners and building a network of experts to overcome the challenges of the labor market.