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

Pic: Shutterstock

Textiles | On 22nd Feb 2020

Pharr sells Pharr High Performance to Coats Group

Pharr, a provider of differentiated textile products and assorted...

Pic: Shutterstock

Textiles | On 22nd Feb 2020

TOAI highlights importance of textiles in auto industry

The first edition of the conference 'Textile Opportunities in a...

Pic: Shutterstock

Textiles | On 22nd Feb 2020

Cocona's 37.5 fibres to have new biodegradable additive

All of the 37.5 staple fibres and filament yarns by Cocona, will now...

Interviews View All

Sachin Sharma, Gem Enviro Management Pvt Ltd

Sachin Sharma
Gem Enviro Management Pvt Ltd

There are no significant differences between virgin yarn and PET recycled...

C. Dhandayuthapani, Mag Solvics Pvt. Ltd

C. Dhandayuthapani
Mag Solvics Pvt. Ltd

ITME 2016 exploited our full strength like never before

Veronique Lee, Modavanti

Veronique Lee
Modavanti

‘Sustainable fashion is trending upwards, slowly but surely, as people...

Tejas N Patel, Navin D Patel,

Tejas N Patel, Navin D Patel

Founded in 1999 by Navin Patel in the name of Tejas Fabrics with 100...

Abhishek Ralli,

Abhishek Ralli

Guide group is a government recognised manufacturing house engaged in the...

Vikram Saria,

Vikram Saria

Shanghai-based Aura Designs Ltd is a leading manufacturer of textile and...

Isabel Herranz, European School of Business & innovation

Isabel Herranz
European School of Business & innovation

Cutting-edge ideas like the Internet of Things and artificial intelligence ...

Paige Mullis, Glen Raven Inc

Paige Mullis
Glen Raven Inc

Paige Mullis discusses the expansion plans of Glen Raven Inc in India, and ...

Robert Erichsen, Statex Produktions & Vertriebs GmbH

Robert Erichsen
Statex Produktions & Vertriebs GmbH

Statex Produktions & Vertriebs Gmbh, founded in 1978 and headquartered ...

Ritu Kumar, Label Ritu Kumar

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Varsha Wadhwa, VW

Varsha Wadhwa
VW

Coming from a family that ran a business of jute and linen mills since...

Rajesh Pratap Singh, Rajesh Pratap Singh

Rajesh Pratap Singh
Rajesh Pratap Singh

<div>Ace fashion designer <b>Rajesh Pratap Singh</b> has used Tencel to...

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

Leave your Comments


February 2020

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


Advanced Search