NLO: 22.3% Saudization Rate in Private Sector in Saudi Arabia
Usamah Al-gemili, CEO of the National labor Observatory, said that the rate of Saudization in the private sector in Saudi Arabia will reach 22.3%, by 2023.
In a call with Argaam , Al-gemili explained that the number of subscribers reached more than 1.7 million subscribers in 2018 compared to the current time, which is more than 2.2 million subscribers.
The wage index has been calculated recently since 2018 to 2023 based on the growth rate of average salaries of active Saudi employees by tracking all registered national subscribers in social insurance.
The Observatory noted the improvement of skills, jobs, productivity and wages over the past years, as they took an upward trend supported by government spending, initiatives and vision projects. It is expected that they will continue their current momentum for next years.
The growth of economic reforms since the launch of the programs and initiatives of Vision 2030 and the rise in the attractiveness of the Saudi labor market were among the most important reasons that contributed to the growth of citizens’ wages, in addition to improved skills associated with the labor market and high demand for specialized jobs.
These efforts in economic reforms have resulted in the high quality of jobs, the development of citizens’ leadership skills and the high demand for competencies in large enterprises and companies which fits into the world’s accelerated development.
He noted that 2018 was identified as a result of the beginning of the reversal of course and clarity of the impact of vision programmers on the impact on staff numbers, indicating that the indicator is published in the job review report, one of the reports of the National Observatory for Scheduled Action annually.
According to the availability of data on Argaam , the average wages of Saudization in the private sector increased by 45% during the past five years, reaching about 9.6,000 Riyals during the current year from 6.6,000 Riyals in 2018.