Saudi Arabia Begins Localization of Education Sector Jobs

Saudization of education jobs in the public and private sectors, Asharq Al-Awsat
Saudization of education jobs in the public and private sectors, Asharq Al-Awsat
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Saudi Arabia Begins Localization of Education Sector Jobs

Saudization of education jobs in the public and private sectors, Asharq Al-Awsat
Saudization of education jobs in the public and private sectors, Asharq Al-Awsat

Saudi Arabia started on Wednesday the first phase of localization of educational jobs in private schools and international schools for boys and girls.

This aligns with the Minister of Human Resources and Social Development Ahmed Al-Rajhi’s decision last May.

According to Al-Rajhi’s decision, the Kingdom aims to Saudize a specific percentage of jobs and to create 28,000 jobs for Saudis in a number of subjects in various phases of public education.

Saudization will be implemented in specific proportions over several phases within a span of the coming three years.

The first phase of Saudization in the international schools covers specializations like the Arabic language, national identity, Islamic studies, social studies, art education, and physical education.

The decision also aims to increase Saudization rates in private schools in all disciplines, including mathematics, physics, biology, science, and computer.

The ministerial decision stipulated a grace period from the date of its issuance until the date of implementation of the decision in each phase. During the grace period, the establishment can work to achieve its targeted Saudization rates.

A package of incentives and support will be provided to these establishments as part of supporting private sector establishments in employing Saudis.

According to the procedural guide for Saudization of private education, the Saudization percentage of one teacher will be calculated if his/her monthly wage registered in the General Organization for Social Insurance (GOSI) is not less than SAR 5,000 for a bachelor’s degree holder or its equivalent qualification.

Teachers receiving a wage less than SAR 5,000 will not be counted in the Saudization percentage.

The decision aims to create 28,000 educational jobs for the sons and daughters of the country in private schools and international schools during the next three years.

This decision comes in line with the ministry’s plan to Saudize and boost opportunities available to Saudi men and women participating in the labor market and thus contributing to the gross domestic product (GDP).



Oman's Asyad Group Plans to Sell at Least 20% of Shipping Unit Via IPO

Asyad Group plans to sell shares in its shipping subsidiary through an initial public offering. Photo: Oman News Agency
Asyad Group plans to sell shares in its shipping subsidiary through an initial public offering. Photo: Oman News Agency
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Oman's Asyad Group Plans to Sell at Least 20% of Shipping Unit Via IPO

Asyad Group plans to sell shares in its shipping subsidiary through an initial public offering. Photo: Oman News Agency
Asyad Group plans to sell shares in its shipping subsidiary through an initial public offering. Photo: Oman News Agency

Oman's state-owned logistics firm Asyad Group plans to sell shares in its shipping subsidiary through an initial public offering, it said on Wednesday, as part of the country's privatization drive.

The group, owned by Oman's sovereign wealth fund, plans to sell a stake of at least 20% in Asyad Shipping Co and float it on the Muscat stock exchange, it said in document detailing its intention to float.

"The intended listing would provide investors with the opportunity to invest in one of the world's largest diversified maritime shipping companies and a key player in the Omani economy," the company said.

Asyad Shipping focuses on transporting liquefied natural gas (LNG), crude oil and other products. It lists energy firms BP and Shell as well as trading firm Trafigura among its customers and partners.

The offering will be made in two tranches, with 75% made to eligible investors in Oman and qualified institutional and other foreign investors. Of the 75% tranche, 30% of shares have been earmarked for anchor investors, the firm said.

The remaining 25% will be sold to retail investors in Oman.

The subscription period is expected to start next month, after the company has received regulatory approval.

Asyad Shipping plans to pay dividends semi-annually, beginning in September 2025 for the first six months of this year.

Oman Investment Bank, EFG Hermes, JP Morgan and Jefferies are acting as joint global coordinators. Sohar International is acting as joint global coordinator and as issue manager.
Credit Agricole and Societe Generale are joint bookrunners.