9 government entities explore mechanisms to nationalize 12 economic activities

H.E. Minister of Labor and Social Development Dr. Ali bin Nasser al-Ghafis headed on Sunday at the ministry’s HQ in Riyadh the first steering committee meeting for nationalization, which was attended by representatives of the committee from various government entities. Dr al-Ghafis welcomed the members and emphasized the importance of enhancing public-private partnership (PPP) in order to empower Saudi men and women to seize job opportunities in the labor market and raise their participation in the national economy amid provision of a productive, motivating and stable environment. During the meeting, a number of programs and initiatives were addressed to nationalize job opportunities in various economic sectors, as well as discussing mechanisms to implement the decision aimed at nationalizing 12 economic activities. The participants explored drafts to create incentives for establishments and training ended with employment, provide funds for existing business opportunities through ‘franchise’, support employment and enforce exclusivity of sales to Saudi nationals and offer jobs through apps that can be easily and quickly accessible by Saudi men and women. Meanwhile, the steering meeting consists of the Ministry of Interior, the Ministry of Municipal and Rural Affairs, the Ministry of Commerce and Investment, the General Organization for Social Insurance, the Technical and Vocational Training Corporation, the Human Resources Development Fund, the Social Development Bank, the Local Content and Private Sector Development Unit and the Council of Saudi Chambers.