Saudi Arabia working on nationalization plan for retail sector

Men look out of a building at the Kingdom Centre Tower in Riyadh, Saudi Arabia, January 1, 2017. (Reuters)

Saudi Arabia’s Ministry of Labor and Social Development is “currently working on the localization of the retail sector,” according to Khalid Aba Al-Khail, the Ministry spokesperson.

Al-Khail pointed out in his Twitter account, that the retail sector “is one of the target divisions in the current program” in order to resettle the sectors and create job opportunities and investments for Saudi nationals.

The Ministry of Labor has succeeded in raising the proportion of resettlement in several sectors, including the full resettlement of the telecommunications sector, while providing mobile services, maintenance assistance and after sale services to consumers.

These initiatives aim to achieve the objectives of the national transformation program, which targets creating 220,000 jobs for Saudis annually either by establishing new opportunities or placing them in jobs at institutions with high density of immigrant workers. 

Insurance sector 

On the other hand, the Saudi Arabian Monetary Agency has ordered insurance companies and private professional companies to work on the resettlement of all functions related to the administration of vehicle claims, including the claim branches and centers, surveyors, debris management and recovery, as well as the resettlement of all the functions related to the administration of customer care and complaints services effective to all insurance branches

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Last Update: Wednesday, 20 May 2020 KSA 09:50 - GMT 06:50
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