Economic reforms support growth of Saudi retail sector: Al Rajhi

The Saudi government has implemented several economic reforms to support the growth of the retail sector, said Minister of Labor and Social Development Ahmed bin Suleiman Al Rajhi said on Tuesday.

Addressing the Retail Leaders Circle Summit MENA Region (RLC MENA) in Riyadh, Al Rajhi emphasized that the ministry is working with other government entities to offer attractive incentives to make it easy for investors to transfer knowledge and expertise into the Saudi labor market.

The ministry takes care of senior workers in the retail sector, and entrepreneurs in particular, by giving them several facilities to motivate them to expand and grow, he added.

Al Rajhi added that Vision 2030 aims to promote private investment and expansion, as well as improve business environment.

He noted that the “Future of Work” initiative targets the gig economy and will serve 50,000 people in less than 6 months, adding more than 1 million workers will join the sector by 2030.

The ministry provides 70 automated services, which are slated to be fully automated by June-end, Al Rajhi said.

The summit kicked off on Monday in partnership with “Invest Saudi Initiative”.