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Saudi Investment Ministry Signs 2 MoUs at Riyadh Global Medical Biotechnology Summit

The Ministry of Investment signed two memorandums of understanding with Boehringer Ingelheim Company and Saudi Novo Nordisk Trading Company and King Abdullah University of Science and Technology. SPA
The Ministry of Investment signed two memorandums of understanding with Boehringer Ingelheim Company and Saudi Novo Nordisk Trading Company and King Abdullah University of Science and Technology. SPA
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Saudi Investment Ministry Signs 2 MoUs at Riyadh Global Medical Biotechnology Summit

The Ministry of Investment signed two memorandums of understanding with Boehringer Ingelheim Company and Saudi Novo Nordisk Trading Company and King Abdullah University of Science and Technology. SPA
The Ministry of Investment signed two memorandums of understanding with Boehringer Ingelheim Company and Saudi Novo Nordisk Trading Company and King Abdullah University of Science and Technology. SPA

The Ministry of Investment signed two memorandums of understanding with Boehringer Ingelheim Company and Saudi Novo Nordisk Trading Company and King Abdullah University of Science and Technology at Riyadh Global Medical Biotechnology Summit 2023, the Saudi Press Agency reported Friday.

The MoUs were signed in the presence of Minister of Investment Eng. Khalid bin Abdulaziz Al-Falih, SPA said.

The summit was organized by the Ministry of National Guard represented by Health Affairs Department in Riyadh on January 25-26.

The two MoUs aim to enhance joint cooperation with the biotechnology and medicine sector in the Kingdom, transfer knowledge, localize the industry, contribute to enhancing human health and quality of life, increase awareness and establish centers specialized in research, SPA said.

The Ministry of Investment is a strategic partner to Riyadh Global Medical Biotechnology Summit 2023, which hosts a group of international experts to discuss the latest developments in medical biotechnology, it added.

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GASTAT: Saudi Women's Participation in Labor Force Reaches 36.2%

The General Authority for Statistics (GASTAT) logo
The General Authority for Statistics (GASTAT) logo
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GASTAT: Saudi Women's Participation in Labor Force Reaches 36.2%

The General Authority for Statistics (GASTAT) logo
The General Authority for Statistics (GASTAT) logo

The General Authority for Statistics (GASTAT) said Tuesday that the unemployment rate among Saudis in Q3 of 2024 was 7.8%, an increase of 0.7 percentage points over Q2 of this same year, and a year-on-year decrease of 1 percentage point from Q3 2023.

The Labor Market Bulletin for the third quarter of 2024 also shows that the Saudi and non-Saudi labor force stood at 66.6%, a 0.4 percentage point increase over Q2 of 2024.
Among Saudis, the labor force grew by 0.7 percentage points, to reach 51.5%, marking a year-on-year increase of 0.7 percentage points. The employment-to-population ratio among Saudis went up by 0.2 percentage points, reaching 47.4%, or an annual growth of 1.1 percentage points.
The bulletin also highlighted the growth of Saudi women's participation in the labor force, which increased by 0.8 percentage points, to 36.2%, in the mentioned period.
The employment-to-population ratio among Saudi women rose by 0.5 percentage points, reaching 31.3%. Among Saudi women aged 15–24, participation in the labor force increased by 1 percentage point, to 18%, while the employment-to-population ratio among this age group rose by 0.6 percentage points, to 13.6%, in Q3 of 2024.
Participation in the labor force among young Saudi men increased by 1.1 percentage points, to 34.6%.
Among Saudi men in general, participation in the labor force increased by 0.6 percentage points, to 66.9%, and the employment-to-population ratio reached 63.7%.
Among Saudi men and women in the prime working-age group (25–54 years), participation in the labor force rose by 0.7 percentage points, to 69.4%, and the employment-to-population ratio increased by 0.3 percentage points, to 64.8%.