Saudi Labor Ministry Improves Contracts to Increase Efficiency

Saudi Ministry of Labor and Social Development Logo
Saudi Ministry of Labor and Social Development Logo
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Saudi Labor Ministry Improves Contracts to Increase Efficiency

Saudi Ministry of Labor and Social Development Logo
Saudi Ministry of Labor and Social Development Logo

The Saudi labor market is witnessing a tangible progress in improving contracts and raising its efficiency and competitiveness, according to the Ministry of Labor and Social Development.

The Ministry asserted it wants to ensure that the rights of workers are protected through the mandatory electronic documentation program of labor contracts of employees in the private sector by the end of 2020.

The program aims to protect the rights of workers by archiving and documenting their contracts so that they are aware of the data and whether they approve its content or not.

It aims to protect the rights of the parties to the relationship, support emerging business, and remove barriers to business growth.

According to the minister’s new decision, all new contracts will be documented electronically. 

The Ministry has recently held a seminar with the private sector in Riyadh to exchange views on improving the work environment and attract national talents, with the participation of Minister of Labor and Social Development Ahmed al-Rajhi, and a number of business owners and entrepreneurs in the private sector.

Business owners and private sector officials believe it is important to improve the contractual relations in order to create an attractive work environment for citizens and attract competencies to the labor market to serve the Kingdom's economy.



Saudi Fund for Development, Italy's CDP Sign MoU for Development Collaboration

The MoU focuses on fostering the growth of development sectors. SPA
The MoU focuses on fostering the growth of development sectors. SPA
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Saudi Fund for Development, Italy's CDP Sign MoU for Development Collaboration

The MoU focuses on fostering the growth of development sectors. SPA
The MoU focuses on fostering the growth of development sectors. SPA

CEO of the Saudi Fund for Development Sultan bin Abdulrahman Al-Marshad signed a memorandum of understanding (MoU) for development cooperation with CEO and General Manager of Italy's National Promotional Institution, Cassa Depositi e Prestiti (CDP), Dario Scannapieco.

The Minister of Investment, Eng. Khalid Al-Falih, attended the signing ceremony held in AlUla on Sunday.

The MoU aims to establish and enhance cooperation in social and economic development shared between the two countries, facilitating the exchange of expertise.

It also focuses on fostering the growth of development sectors that contribute to sustainable development goals (SDGs) and global development efforts, promoting best practices in joint financing and maximizing developmental impact for the growth and prosperity of developing countries worldwide.