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Saudi Malls, Supermarkets, Restaurants Told to Increase Hiring of Saudi Nationals

Makkah Mall, one of the shopping malls operated by Arabian Centers, is pictured in Makkah, Saudi Arabia, April 17, 2019. (Reuters)
Makkah Mall, one of the shopping malls operated by Arabian Centers, is pictured in Makkah, Saudi Arabia, April 17, 2019. (Reuters)
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Saudi Malls, Supermarkets, Restaurants Told to Increase Hiring of Saudi Nationals

Makkah Mall, one of the shopping malls operated by Arabian Centers, is pictured in Makkah, Saudi Arabia, April 17, 2019. (Reuters)
Makkah Mall, one of the shopping malls operated by Arabian Centers, is pictured in Makkah, Saudi Arabia, April 17, 2019. (Reuters)

Malls, supermarkets, restaurants and cafes in Saudi Arabia must increase their percentage of local hires, the Kingdom’s ministry of human resources and social development announced on Wednesday.

A set of three decisions announced by Minister Ahmed bin Suleiman al-Rajhi was expected to provide 51,000 jobs for Saudi men and women, state news agency SPA reported. The move is part of a wider governmental push to replace expatriate workers with Saudi citizens.

The first decision would limit only Saudis to work in malls and mall management offices, “with the exception of a limited number of activities and professions in these malls.”

Supermarkets, restaurants and cafes would have to increase the number of Saudi citizens on payroll, in keeping with ministry issued guidelines.

Penalties would be issued to commercial establishments that violate the new ordinances, according to SPA, the rules of which would be made available on the ministry website.

Unemployment among Saudi citizens fell to 12.6% in the fourth quarter of 2020 from 14.9% in the third quarter, official data from the world’s biggest oil exporter showed on Wednesday.

The government has been pushing through economic reforms since 2016 to create millions of jobs and reduce unemployment to 7% by 2030. The plans were disrupted by the coronavirus crisis, which sent oil prices plummeting last year.

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Egypt, IMF Hold New Discussions to Alleviate Citizens’ Financial Burdens

Sisi and IMF Managing Director Kristalina Georgieva. (Reuters file photo)
Sisi and IMF Managing Director Kristalina Georgieva. (Reuters file photo)
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Egypt, IMF Hold New Discussions to Alleviate Citizens’ Financial Burdens

Sisi and IMF Managing Director Kristalina Georgieva. (Reuters file photo)
Sisi and IMF Managing Director Kristalina Georgieva. (Reuters file photo)

Egypt and the International Monetary Fund (IMF) have agreed to review their joint credit facilitation program to ensure that no additional burdens are placed on citizens.

Egyptian Prime Minister Mostafa Madbouly reiterated the government’s commitment to “maintaining a flexible exchange rate in coordination with the central bank to safeguard the progress achieved in this area.” He expressed hope that the meetings with the IMF delegation in the coming days would “conclude the fourth review of the economic reform program.”

Following a meeting on Sunday between President Abdel Fattah al-Sisi and IMF Managing Director Kristalina Georgieva in Cairo, the Egyptian Presidency announced that Georgieva expressed her “full understanding of the significant challenges Egypt faces amid regional and global developments.”

In March, Egypt signed an $8 billion extended financial support package with the IMF, which requires reducing subsidies on fuel, electricity, and essential goods and allowing the Egyptian pound to float.

In late October, Sisi warned that his government might need to reassess its program with the IMF if international institutions do not account for the extraordinary regional challenges the country is facing. He cited a nearly 60% drop in Suez Canal revenue due to security tensions in the Red Sea as an example.

During the meeting with Georgieva, Sisi expressed Egypt’s commitment to continuing its cooperation with the IMF, building on progress to boost economic stability and reduce inflation. However, he stressed the need to acknowledge recent challenges Egypt has faced due to regional and international crises, which have impacted foreign currency reserves and budget revenues.

Sisi reiterated that the government’s primary focus is on alleviating pressures on citizens, particularly by controlling inflation and curbing rising prices, while also continuing efforts to attract investments and empower the private sector to drive employment and growth.

Georgieva, in turn, commended Egypt’s recent efforts and the reform program being “carefully implemented with a focus on the most vulnerable.” She highlighted the progress in macroeconomic indicators despite unprecedented current challenges, noting that this has been reflected in positive assessments from international credit rating agencies, improved credit ratings, and increased investments.

She expressed her “full understanding of the significant challenges Egypt faces amid regional and global developments” and emphasized the IMF’s commitment to working with the Egyptian government to identify optimal reform paths.