Al Mawarid’s unit, Ministry of Tourism sign MoC to provide Saudi workforce

Logo of Sawaid Recruitment Co.

Al Mawarid Manpower Co. announced that its subsidiary, Sawaid Recruitment Co., signed a memorandum of cooperation (MoC) with the Ministry of Tourism to provide Saudi workforce through the Isnad program.

The company said in a statement on Tadawul that the 24-month MoC will attract and increase the number of Saudi talents through the Isnad program.

This program enables the tourism sector to serve and improve its functional scope, as the beneficiary company will add Saudi cadres.

On the other hand, the Ministry of Tourism will cooperate with Sawaid to provide the necessary support for the program.

This project will focus on the tourism sector and provide it with the necessary workforce to allow sector companies to focus on their core businesses, while Sawaid will provide the Saudi workforce with all related services, and at the same time the beneficiary company will add the loaned workforce to its scopes.

Isnad program will improve the work environment for Saudi employees, as they will be provided with better benefits and thus enhance their retention rate in the sector.

The program comes as part of many localization programs offered by the Ministry of Human Resources and Social Development (HRSD) to attract Saudi talent and allow business owners to focus on their core business in light of Vision 2030.

The financial impact is expected to appear on the company’s statements as of Q1 2024 and will continue during the validity period of the memorandum.