Home / Knowledge / News / Apparel/Garments / Saudi Arabia to create 1 million new jobs in retail
Saudi Arabia to create 1 million new jobs in retail
09
Jul '16
In line with the Kingdom's Vision 2030, the Saudi retail sector has taken concrete steps to generate 1 million new jobs by 2020 and provide the youth with more opportunities to work in commercial shops, vegetable markets, telecommunication shops, and several other fields.

Saudi Arabia's retail sector enjoys more than SR 370 billion in investments annually and retailers will play a central role in the implementation of Vision 2030 as also realising the goal of limiting the unemployment rates in the desert country, Fahad bin Saiban Al-Sulami, Member of the Board of the Jeddah Chamber of Commerce and Industry told website www.arabnews.com .

The retail sector, said Al-Sulami, will help bring unemployment down from 11.6 percent to 7 percent, as stipulated in the vision, while the labour market will see more female participation and an over 10 percent growth.

The Ministry of Labor and Social Development's upcoming 5-year plan will see more than 1.3 million Saudi nationals enter the labour market as a result of the plan to nationalize the retail, telecommunication, taxi, travel and tourism, real estate, gold and jewellery, and vegetable market sectors, he said.

Al-Sulami also stressed the need to face the major challenges facing the retail sector, such as 'cover up' practices, the high cost of available commercial spaces, labour shortages, limited investment in training national cadres, as well as inadequate infrastructure to serve the sector.

"Many SMEs turn to expatriate labour because they are seemingly more affordable, a situation that has increased the percentage of expatriates in the sector to more than two-thirds and created significant economic pressure," he said. (SH)

Fibre2Fashion News Desk – India


Must ReadView All

Apparel/Garments | On 26th Jun 2017

GSTN registration reopens

E-commerce operators and TDS (tax deducted at source) deductors can...

Textiles | On 26th Jun 2017

Expedite release of ROSL pending claims: TEA to Centre

The Tiruppur Exporters' Association (TEA) has again urged Union...

Textiles | On 26th Jun 2017

'Export promotion schemes to continue under GST regime'

The export promotion schemes will continue under GST regime, said...

Interviews View All

Kaizad Hansotia
GetNatty

Competition is the best thing that can happen to a startup

Claudia Kersten
Global Organic Textile Standard

‘GOTS is a very efficient supply chain management tool, especially for...

DK Sharma
Velocity Apparelz

We constantly communicate with employees at all levels

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
July 2017

July 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search