Saudi Arabia Offers 70,000 Jobs Through New Unified National Employment Platform

Minister of Human Resources and Social Development Ahmed Al-Rajhi at the launch of the Jadarat platform. (Asharq Al-Awsat)
Minister of Human Resources and Social Development Ahmed Al-Rajhi at the launch of the Jadarat platform. (Asharq Al-Awsat)
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Saudi Arabia Offers 70,000 Jobs Through New Unified National Employment Platform

Minister of Human Resources and Social Development Ahmed Al-Rajhi at the launch of the Jadarat platform. (Asharq Al-Awsat)
Minister of Human Resources and Social Development Ahmed Al-Rajhi at the launch of the Jadarat platform. (Asharq Al-Awsat)

The Saudi government has introduced “Jadarat,” a new national job platform designed to simplify the job search process and connect job seekers with employers. The platform aims to make it easier for citizens to find jobs and for employers to access local talent through an efficient digital system.

The launch of Jadarat follows a Cabinet decision from February 2021 to create the platform. Last October, the Cabinet appointed the Saudi Human Resources Development Fund, also known as Hadaf, to manage Jadarat, which will serve as the main tool for national employment.

On Sunday, Minister of Human Resources and Social Development Ahmed Al-Rajhi, along with Tourism Minister Ahmed Al-Khateeb and Hadaf Director General Turki Al-Jawini, officially launched Jadarat in Riyadh.

The platform uses a digital system to quickly match job seekers with available positions, streamlining the application process.

Al-Rajhi emphasized the government’s focus on developing local talent and improving workforce efficiency.

He noted that Jadarat is designed to unify and verify job seekers’ data, enhance application processes, and make it easier for individuals to access job opportunities.

Al-Rajhi revealed that Hadaf has spent about SR3.7 billion ($986 million) on programs and products to support employment, training and qualification of Saudis during the first half of this year.

More than 100,000 establishments have benefited from these programs and over 153,000 citizens were employed in private sector establishments, he said during the launching ceremony of Jadarat.

“The goal of the platform, under the slogan ‘Ambition and Empowerment,’ is to unify employment efforts and data of job seekers in the public and private sectors, and to raise the quality and reliability of data,” he said.

Speaking on the occasion, Al-Jawini said that there are approximately 70,000 job vacancies on Jadarat in various specializations, needs and sectors of the labor market.

He highlighted Hadaf’s keenness on establishing the platform to review a number of international qualitative experiences and take into account the challenges that the labor market previously faced.



Saudi PIF's Assets under Management Exceeds SAR2.871 Trillion in 2023

Saudi PIF's Assets under Management Exceeds SAR2.871 Trillion in 2023
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Saudi PIF's Assets under Management Exceeds SAR2.871 Trillion in 2023

Saudi PIF's Assets under Management Exceeds SAR2.871 Trillion in 2023

Saudi Arabia’s Public Investment Fund (PIF) released on Monday its annual report for 2023, providing an overview of its performance and financials for the year. The report has shown rapid progress across various strategic pillars and sectors in Saudi Arabia and the world, including transportation, mining, real estate, infrastructure, health, communications, technology, tourism and sports, further supporting its mandate and its strategies as a major driver of economic transformation, in line with Saudi Vision 2030, as well as its position as one of the most impactful investors in the world.

The report, which demonstrates PIF’s commitment to transparency and good governance in line with GIPS international standards, shows strong performance in 2023, with assets under management (AuM) increasing by 29% to SAR2.871 trillion (c. $765 billion) by year-end 2023.

As of July 2024, PIF AuM stands at $925 billion. PIF recorded average total shareholder return of 8.7% per year since VRP inception date, as well as significant progress against its objectives of delivering long-term, sustainable returns and economic transformation in Saudi Arabia.

Total net cash returns for both Saudi Sector Development (SSD) and Saudi Equity Holdings (SEH) pools reached $11.2 billion (SAR42 billion) for the year, substantially exceeding the $5.3 billion (SAR20 billion) target. The Saudi Real Estate and Infrastructure Development (SREID) pool increased 15% year-on-year to reach $62 billion (SAR233 billion) in AuM.

The launch of PIF’s inaugural Private Sector Forum was an important milestone in highlighting opportunities for local businesses to align with and support PIF’s mandate. At the event, several key initiatives were unveiled, including MUSAHAMA, the local content growth program, and the Suppliers Development Program. The programs promise to offer private sector companies enhanced visibility into supplier and investment opportunities within PIF and its subsidiary companies.

PIF has continued to deploy significant investment locally, which is supporting growth in key economic sectors that are of strategic importance to the domestic economy, launching Riyadh Air – Saudi Arabia’s new national carrier.

The Electric Vehicle Infrastructure Company (EVIQ) is intended to accelerate the adoption of EVs in Saudi Arabia, with PIF further supporting the car manufacturing ecosystem through Tasaru Mobility Investment.

PIF also launched Lifera, a new pharmaceutical investment company, and Al Balad Development Company as well as Ardara in the real estate sector.

PIF has now created a cumulative total of more than 730,000 direct and indirect jobs by year end 2023, bringing the total as of Q1 2024 to more than 763,000 direct and indirect jobs.

PIF has continued to increase its capital investment globally with SAR586 billion ($156 billion) invested internationally in 2023 alone, a 14% year-over-year increase of SAR74 billion ($19.98 billion).

The international investment portfolio plays a key role in enhancing PIF’s broad international portfolios and developing capital over the long term with a focus on impactful investments that generate significant returns over time by investing in the industries of the future that are shaping the global economy, helping to localize expertise, skills and technologies to Saudi Arabia.

PIF has also been active in securing foreign direct investment, including a joint venture with the Korean carmaker Hyundai to establish a new Saudi-based factory, and a partnership with the Italian tire producer Pirelli to make tires in Saudi Arabia for both domestic and export sale.

It also launched another joint venture with the Chinese firm, Baosteel, to establish an integrated steel plate manufacturing complex in Saudi Arabia.

PIF has been rated A1 by Moody’s with a positive outlook and A+ by Fitch with a stable outlook.