Govt Incentives Support Sustainability of Saudi Employment in Private Sector

Private sector companies attracted 49,300 Saudis in October. (Asharq Al-Awsat)
Private sector companies attracted 49,300 Saudis in October. (Asharq Al-Awsat)
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Govt Incentives Support Sustainability of Saudi Employment in Private Sector

Private sector companies attracted 49,300 Saudis in October. (Asharq Al-Awsat)
Private sector companies attracted 49,300 Saudis in October. (Asharq Al-Awsat)

Three main factors provided by the Saudi government have helped sustain the employment of citizens in the private sector over the past years.

Those include financial incentives and rewards, continuous training and development, and support and nationalization programs.

According to a report by the National Labor Observatory of the Human Resources Fund on Sunday, a copy of which was reviewed by Asharq Al-Awsat, the local labor market was able to employ more than 714,000 people in the private sector during a period ranging between five to 10 working years.

Private sector companies attracted 49,300 citizens last October. This comes after non-oil sector companies recorded a strong performance during the same month, in terms of employment, the highest in nine years, according to the Purchasing Managers’ Index issued by Riyad Bank in cooperation with Standard & Poor’s.

The report revealed that the total number of citizens working in the private sector reached more than 611,000 employees between one and three years, while the number of Saudis in private companies between three and five years reached more than 377,000 workers.

A recent report issued by the Saudi Ministry of Economy and Planning pointed to an improvement in the business environment in Saudi Arabia, as non-oil private sector companies witnessed a continuous growth in performance.

The report revealed that new orders increased positively at the beginning of the second quarter, which led to a strong growth in economic activity, production and employment.



Aramco Inaugurates Regional Center for Sustainable Fishery Development on Abu Ali Island

tthe inauguration of the regional center for sustainable fishery development, Arabian Gulf branch, was made in cooperation with the Ministry of Energy and the Ministry of Environment, Water and Agriculture. Aramco
tthe inauguration of the regional center for sustainable fishery development, Arabian Gulf branch, was made in cooperation with the Ministry of Energy and the Ministry of Environment, Water and Agriculture. Aramco
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Aramco Inaugurates Regional Center for Sustainable Fishery Development on Abu Ali Island

tthe inauguration of the regional center for sustainable fishery development, Arabian Gulf branch, was made in cooperation with the Ministry of Energy and the Ministry of Environment, Water and Agriculture. Aramco
tthe inauguration of the regional center for sustainable fishery development, Arabian Gulf branch, was made in cooperation with the Ministry of Energy and the Ministry of Environment, Water and Agriculture. Aramco

Saudi Aramco announced on Thursday the inauguration of the regional center for sustainable fishery development, Arabian Gulf branch, in cooperation with the Ministry of Energy and the Ministry of Environment, Water and Agriculture.

Through this collaboration, Saudi Aramco aims to highlight its investments in citizenship initiatives and its efforts to drive economic growth, support local fishermen and their livelihoods, build expertise, and adopt the best practices to enhance production and cultivate fish of marketable sizes that can compete globally.

The center is part of the company's broader efforts to protect marine life in the Arabian Gulf. It involves the establishment of a fish hatchery on Abu Ali Island in Jubail, located on the Arabian Gulf coast, designed to produce local fish species that have experienced population declines due to fishing practices and to reintroduce them into Gulf waters.

The center's operations are designed to encompass the complete fish life cycle within designated tanks, from broodstock for egg production to larval rearing using plankton produced on-site and finally to the release of juvenile fish into the Arabian Gulf. The hatchery employs advanced aquaculture technologies to ensure fish health, and it utilizes top-tier water recycling techniques to enhance performance and meet the company's circular economy objectives.

The project aligns with Saudi Aramco's mangrove plantation initiative, under which more than 43 million trees have been planted to date. Mangrove forests provide vital nursery habitats for the juvenile fish released into the Gulf, further supporting the sustainability of marine ecosystems.