MLSD unveils national standard industrial classification of all economic activities (ISIC4)

The Ministry of Labor and Social Development (MLSD) announced on Monday it has implemented the National Standard Industrial Classification of All Economic Activities since January 1, 2018.

The move comes as part of the Supreme Decree aiming to adopt and apply the newly unveiled code in the Kingdom of Saudi Arabia when it comes to the economic activity code.

Khaled Abalkhail, spokesman at MLSD, said: ‘The code is in a bid to unify all economic activities and adopt international standards for designing the code. It aims to create a database that continuously helps issue reports and statistics on a periodical basis.’

It is noteworthy that the National Standard Industrial Classification of All Economic stems from the fourth edition of the International Standard Industrial Classification of All Economic Activities, Revision 4, which is issued by The United Nations Economic and Social Council (ECOSOC).